The Philippine Anti-Money Laundering Council is to release a new anti-money laundering framework for casinos in October.
Back in July, Philippines President Rodrigo Duterte signed the Anti-Money Laundering Act under which casinos became “covered persons” with the Philippine Amusement and Gaming Corporation and “other government regulatory agencies” given up to 90 days to “implement rules and regulations.”
In statements to the Manila Bulletin, AMLC executive director attorney Mel Georgie Racela said the new framework should be issued “one week before the deadline. We’re looking at between October 10 to 14 to get approval from our respective boards.”
