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, which will see the company have its registration revoked.
As of November 16, 2021, there are three Philippine Offshore Gaming Operators (POGOs) that have had their licenses revoked for failing or refusing to cooperate with the AMLC.
Last year in March, the AMLC called for a review of all existing POGO licensees and service providers, amid an increasing threat to money laundering and other fraudulent activities.
According to a study titled “Understanding the Internet-Based Casino Sector in the Philippines: A Risk Assessment” there are a high number of unregulated or unsupervised service providers in the POGO sector.
The study also found that much of the information given by POGOs to PAGCOR such as their office address and the details of their compliance officer has been incorrect.
The study also showed an increased level of threat to money laundering and other fraudulent activities.
As of October 4, there are 36 licensed POGO operators operating in the Philippines.