Philippine Congress Introduces Tighter Casino Anti-Money Laundering Regulations
Philippine lawmakers voted earlier today in favor of proposed amendments to your country’s anti-money laundering laws. The amended law will now real money casino app android protect the Philippines’ profitable gambling industry, including land-based and online gambling operations in addition to gambling solutions provided on board of luxury cruise ships.
Both chambers regarding the Philippine Congress passed separate, but similar in their nature, bills that real-money-casino.club demand an expansion and improvement associated with nation’s current regulatory framework for the prevention of money laundering and related illicit financial flows.
The amendments to your existing legislation have been advised by the Asia/Pacific Group on Money Laundering, an autonomous organization that is international includes more than 40 countries through the area. Your body had given the Philippine government up until June 2017 to implement anti-money laundering reforms that, among other areas, would also affect gambling operations, especially to transactions pertaining to gambling huuuge casino app real money.
The Philippines as well as its cash laundering rules appeared in the radar display screen last year in relation to the Bangladesh Bank heist. More than $81 million had been taken from the bank that is central of and had been allegedly laundered in Philippine gambling enterprises.
The instead lax casino money laundering regulations hampered research and made it quite difficult for authorities and authorities to locate the Bangladesh money and find out whom the perpetrators were.