Wednesday | Oct. 25, 2017 | 5:30 PM

(From left) BSP Governor and Anti-Money Laundering Council Chairman Nestor Espenilla Jr., PAGCOR Chairman and CEO Andrea Domingo, President and COO Alfredo Lim and Director Gabriel Claudio sign the Casino Implementing Rules and Regulations of Republic Act No. 10927 held on October 25, 2017 at Century Park Hotel in Malate, Manila.

The Anti-Money Laundering Council (AMLC) together with the Philippine Amusement and Gaming Corporation, (PAGCOR), Aurora Pacific Economic Zone and Freeport Authority (APECO) and Cagayan Economic Zone Authority (CEZA) signed on October 25, 2017, the Casino Implementing Rules and Regulations (CIRR) of Republic Act No. 10927 or an act designating casinos as covered persons under RA No. 9160, otherwise known as the Anti-Money Laundering Act (AMLA) of 2001, as amended.

The CIRR aims to prevent the Philippine casino industry from being exploited as venue for money laundering and terrorist financing. The law shall apply to all casinos, including internet and ship-based casinos operating within the Philippines’ territorial jurisdiction. It shall take effect on November 4, 2017.

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