Pagcor praised by nation’s Anti-Money Laundering Council

Jan 26, 2022 Newsdesk Latest News, Philippines, Top of the deck  

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The Philippine Amusement and Gaming Corp (Pagcor), the casino regulator in that nation, says it has won a commendation from the country’s Anti-Money Laundering Council (AMLC), for Pagcor’s “invaluable contribution” to the Philippines’ anti-money laundering and combatting the financing of terrorism efforts.

The commendation was received by Andrea Domingo (pictured), Pagcor’s chairman and chief executive, in an online ceremony.

Pagcor supported efforts to “ensure that the Philippines will not in any way condone any illegal activity that will derail the AMLC’s fight against money laundering for financing of terrorism,” Ms Domingo was cited as saying in a press release.

Pagcor had been “proactive in conducting outreach programmes to its licensees in order to promote a better understanding of their duties and obligations” under the country’s Anti-Money Laundering Act, added Ms Domingo.

Benjamin Diokno, governor of the country’s central bank, said during the online ceremony that the Philippines had made progress in anti-money laundering matters “in spite of” its recent inclusion on the ‘grey’ list of the France-based Financial Action Task Force (FATF).

The Philippines was added to the ‘grey’ list in June last year, with the FATF making a follow-up plea in October for the country to step up its oversight of casino junkets.

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