The Philippines Anti-Money Laundering Council (AMLC) as of Tuesday has added Smarc Group International, a POGO operator, to its list of uncooperative covered persons.

Technology has become key in standardizing regulations in the gaming industry. A top industry expert notes that KYC and AML are now integral for operators, requiring a new approach, as different threats and opportunities appear.

In an interview with AGB, Frederic Ho, Vice President of Asia Pacific at Jumio, an online identity verification company, highlighted the current challenges faced by ID verification technology and its crucial role in the gaming industry.

DFNN’s Executive Chairman and Founder, Ramon Garcia Jr., says that the Philippines is "doing the best it can" to be removed from FATF's gray list.

The Philippines and Vietnam remain on the Financial Action Task Force’s grey list, the only two Asian gaming jurisdictions so defined. In this week’s Under the Scope, gaming expert Ben Lee looks at the differences between each country’s strategy, the impositions they’re facing, and business and political sentiment towards their continued oversight by the financial watchdog.

The Philippines is fighting to get itself off the Financial Action Task Force (FATF) graylist, with numerous criteria still to fulfill. Amongst them is junket oversight, which still falls under the purview of the casino - given the location on the gaming floor. Despite increased efforts by authorities, the nation needs to be able to prove to the FATF that it's trying to change, and implementing stringent oversight measures.

The Philippines found itself on the global money laundering and terrorist financing watchdog Financial Action Task Force's (FATF) gray list in June 2021 due to junket issues.

In response to a statement from the Financial Action Task Force (FATF), the Philippines Anti-Money Laundering Council (AMLC) says that key government agencies have ‘rallied behind’ new directives, including implementing AML/CTF (anti money laundering, counter terrorism financing) controls ‘to manage risks linked with casino junkets’.

The CEO of the Cagayan Economic Zone Authority, Katrina Ponce Enrile, told AGBrief that the Philippine Amusement and Gaming Corporation (PAGCOR)’s attempt at regulating offshore gaming operators (POGOs) “has failed.” 

A Philippine lawmaker is calling for the nation’s Anti-Money Laundering Council (AMLC) to be involved in the probe into Philippine Offshore Gaming Operators (POGOs), also saying current laws and thresholds for transactions may need to be improved in order to compete with the use of artificial intelligence.