Covered Persons (CPs) are hereby reminded that transactions involving online casinos and online gambling platforms must be conducted exclusively with entities duly registered with the Philippine Amusement and Gaming Corporation (PAGCOR).
CPs are expected to maintain heightened vigilance by monitoring customer transactions involving online gambling activities, updating customer profiles as necessary, and conducting Enhanced Due Diligence when warranted, in accordance with their Money Laundering and Terrorism Financing Prevention Program.
CPs are strongly advised to consider the risks associated with engaging in online casinos and online gambling platforms, and to file a Suspicious Transaction Report (STR), if warranted.
Failure to comply with this directive may result in the imposition of applicable administrative sanctions under the Rules of Procedure in Administrative Cases (RPAC), as promulgated by the Anti-Money Laundering Council (AMLC).
You may visit the AMLC’s website (http://www.amlc.gov.ph/) to access the reminder and remain informed of the latest issuances and guidelines related to your obligation under the Anti-Money Laundering Act, as amended.
Additionally, interested parties may refer to the PAGCOR’s websites:
| https://www.pagcor.ph/regulatory/index.php | Official list of PAGCOR licensed and accredited entities. |
| https://www.pagcorguarantee.ph | PAGCOR-Authorized Online Gaming Websites |
Aligned with the national policy of preventing the country from being used as money laundering and terrorist financing (ML/TF) site, the government has expanded anti-money laundering laws to cover casinos, including internet and ship-based casinos.
To implement the inclusion of casinos under the coverage of the Anti-Money Laundering Act (AMLA), the Anti-Money Laundering Council (AMLC) together with PAGCOR and other Appropriate Government Agencies (AGA) jointly promulgated the Casino Implementing Rules and Regulations (CIRR) of RA No. 10927.
Following the government's fight against ML/TF, the Philippine Amusement and Gaming Corporation (PAGCOR) created PAGCOR Anti-Money Laundering Supervision and Enforcement Department (PASED) to set out and enforce effective Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) framework in the casino industry which comprises a wide range of supervisory actions that include preventive measures, related sanctions and other remedial actions that PASED can apply.
Currently, the three (3) main areas of PASED's effort to protect the integrity of the casino industry against ML/TF are as follows:
1. Policy Development, Implementation and Review – Undertake research and analysis to develop policies and plans in consultation/coordination with the AMLC, other local and international counterparts and casino operators.
2. Casino Industry AML/CFT Risk Assessment – Designed to assist casino operators in carrying out their institutional ML/TF risk assessment.
3. On-site Inspection and Off-site Examination – On-site inspections are conducted to ascertain that casino operators are compliant with the AML/CFT framework. Off-site examination entails reviewing and analysing ML/TF Prevention Program (MTPP) and other pertinent reports submitted by the casino operators.