Good morning. Colour me grey. The Philippines’ attempt to exit the Financial Action Task Force (FATF) grey list was unsuccessful during the recent plenary session, despite significant progress in its anti-money laundering and counter-terrorism financing (AML/CFT) reforms since being placed on the list in 2021. Meanwhile, the number of individuals seeking help for gambling disorders in Macau has seen a notable increase in the first half of 2024, and the year could finish with the highest number reported in a decade. At the same time, Cambodian and Vietnamese casino operator Donaco International announced stable financial results for the third quarter, as dips in Cambodia were leveled by operations in Vietnam.
What you need to know
- The Philippines continues on the FATF grey list following the latest review, despite improvements, with a new review by early 2025.
- The number of individuals seeking help for gambling disorders in Macau has seen a notable increase in the first half of 2024.
- Cambodian and Vietnamese casino operator Donaco International has announced stable financial results for the third quarter.
On the radar
- Khanh Hoa police to intensify inspections of gaming facilities.
- Pacific Online Systems Corporation sees significant drop in profit.
- Former “POGO Mayor” Alice Guo faces charges for poll misrepresentation.
- MGM China launches residency show “Macau 2049” on December 15th.
AGB Intelligence
PHILIPPINES
Philippines remains on the AML grey list despite progress
The Philippines’ effort to leave the Financial Action Task Force (FATF) grey list was not successful during the recent plenary session held from October 21-25, 2024, even though the country has made significant strides in its anti-money laundering and counter-terrorism financing (AML/CFT) reforms since being added to the list in June 2021. Still, the FATF acknowledged the Philippines’ dedication to strengthening its AML/CFT framework, with the next on-site assessment scheduled for early 2025.
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