Philippine Congress Introduces Tighter Casino Anti-Money Laundering Regulations
Philippine lawmakers real casino games win real money app voted earlier in favor of proposed amendments to the country’s anti-money laundering regulations today. The amended law will now cover the Philippines’ profitable gambling industry, including land-based and gambling that is online as well as gambling services provided on board of luxury cruise ships.
Both chambers of the Philippine Congress passed split, but similar in their nature, bills that call for an expansion and enhancement regarding the country’s current regulatory framework for the avoidance of cash laundering and related illicit financial flows.
The amendments towards the existing laws and regulations have been urged by the Asia/Pacific Group on Money Laundering, an autonomous real money casino app in india international company that includes a lot more than 40 countries from the region. The human body had given the government that is philippine until June 2017 to implement anti-money laundering reforms that, among areas, would also affect gambling operations, particularly to deals related to gambling.
The Philippines and its particular cash laundering guidelines showed up in the radar display screen year that is last relation to the Bangladesh Bank heist. Significantly more than $81 million were taken from the main bank of Bangladesh and had been presumably laundered in Philippine casinos.
The casino that is rather lax laundering regulations hampered research and made it very difficult for authorities and police to locate the Bangladesh money to see whom the perpetrators had been. Continue reading