Filipino casinos support the law regarding fighting against money laundering

2 August 2018

Five licensed Filipino casinos registered in the financial monitoring organization.

To date, five casinos in the Philippines, which work under an approved license to conduct gambling activities, have joined the list of "transparent" companies. Operators registered in the financial monitoring organization.

The Philippine Anti-Money Laundering Council told the media which companies decided to promote legal activities on the territory of the state: Travelers International Hotel Group Inc, operator of Resorts World Manila; Widus International Leisure Inc and Widus Philippines Inc, which run the Widus Hotel and Casino; Bloomberry Resorts and Hotels Inc, managing Solaire Resort and Casino; Melco Resorts and Entertainment (Philippines) Corp, as well as Tiger Resort Leisure and Entertainment Inc, which owns Okada Manila.

Meanwhile, the Philippine Anti-Money Laundering Council expects all casinos in the country to register with the organization before August 17 of this year.

"The registration requirement was presented in the guidelines published by the Financial Action Task Force (FATF), an international decision-making body that sets standards and promotes the effective implementation of measures to fight against money laundering and the financing of terrorism," the council's representatives said.

Moreover, the gambling regulator of the Philippines Pagcor supported a recently issued moratorium on the process of issuing casino licenses. According to Alfredo Lima, president and chief operating officer of Pagcor, this measure will help the authorities protect the interests of the current operators of the Philippines.

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