Philippine Congress Introduces Tighter Casino Anti-Money Laundering Regulations
Philippine lawmakers voted earlier today and only proposed amendments towards the nation’s anti-money laundering regulations. The amended law will now cover the win real money casino app Philippines’ lucrative gambling industry, including land-based and online gambling operations in addition to gambling services supplied on board of cruise lines.
Both chambers for the Philippine Congress passed separate, but similar within their nature, bills that call for an expansion and enhancement for the country’s current framework that is regulatory the avoidance of money laundering and related illicit financial flows.
The amendments towards the existing rules have been advised by the Asia/Pacific Group on Money Laundering, an autonomous organization that is international includes a lot more than 40 countries through the area. The human body had provided the Philippine government up until June 2017 to implement anti-money laundering reforms that, among areas, would also apply to gambling operations, especially to transactions pertaining to gambling.
The Philippines and its own casino app with real money cash laundering legislation showed up regarding the radar display screen year that is last reference to the Bangladesh Bank heist. More than $81 million had been stolen from the bank that is central of and were presumably laundered in Philippine casinos.
The rather lax casino money laundering regulations casino app android real money hampered research making it quite difficult for authorities and police to locate the Bangladesh money and discover who the perpetrators had been. (more…)