Sunday, April 14, 2024
HomeNewsPhilippinesPAGCOR gets commendation for AML/CFT efforts

PAGCOR gets commendation for AML/CFT efforts


The Philippine Amusement and Gaming Corporation (PAGCOR) said it received a commendation from the Anti-Money Laundering Council (AMLC) for its contribution to the Anti-Money Laundering/Combating the Financing Terrorism (AML/CFT) efforts.

AMLC’s plaque of recognition for PAGCOR was received by Chairman and CEO Andrea D. Domingo during the former’s 20th anniversary celebration.

In her acceptance speech, Domingo congratulated AMLC and expressed the agency’s support to the Council’s anti-money laundering efforts.

“As the country’s governing regulatory body, PAGCOR has been clearly expressing its support to AMLC’s efforts to help ensure that the Philippines will not in any way condone any illegal activity that will derail AMLC’s fight against money laundering for financing of terrorism,” she said.

Domingo also highlighted PAGCOR’s achievements in relation to the AML/CFT measures of the casino gaming sector.  “Aside from the publication of guidelines and issuances, PAGCOR has been proactive in conducting outreach programs to its licensees in order to promote a better understanding of their duties and obligations under the AMLA, as well as to update them with the latest ML/TF typologies,” she said.

The PAGCOR chief likewise underscored how the state-run gaming agency’s accomplishments would not have been possible without the assistance of the AMLC.

“From the enactment of the Memorandum of Agreement (MOA) between the two agencies, to invitation to workshops and webinars, and even the conduct of joint trainings for PAGCOR’s licensees, the AMLC has supported PAGCOR’s initiatives over the years,” Domingo added.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno also delivered the keynote message, where he detailed the country’s tangible progress in spite of its recent inclusion in the Financial Action Task Force (FATF) grey list.

“I am pleased to say that despite the challenges posed by this unprecedented pandemic, the AMLC marched on, carrying out improvements and initiatives against money laundering and terrorism financing. The AMLC also continues to strengthen its ties with other local agencies and other jurisdictions for further effective and efficient coordination and collaboration,” Diokno said. 

AGBrief Editorial
AGBrief Editorial
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.