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Daily Asia Gaming eBrief: Philippines AML compliance is a responsibility of the casino operators

Good Morning. Compliance, compliance. Operators within the Philippines are facing a closing net, as regulators push further strict measures on the industry. But the onus is on the casino managers themselves, notes a lawyer, in particular when it comes to junket activities. Meanwhile, Australia is seeing an interesting week, as the country approves the ban on credit cards for gambling purposes. And in Sydney, The Star has been given a six month deadline to return to compliance or be shut down.

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AGB Intelligence

PHILIPPINES

Department of Finance, Philippines, anti-money laundering, AMLC, AML Compliance

AML compliance is casino operators’ responsibility

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.


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AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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