PAGCOR separates teams to increase control over gambling operations (Sabong News)
The Philippine regulator has established two separate teams to supervise online gaming and land-based casino operations.
The Philippines.-
has decided to split its teams in two in order to have more precise control over gambling operations.
The regulator will dedicate separate teams to
and land-based casino operations, following the approval of the Philippine’s first online gaming licences.
The
was previously responsible for all licensed casinos in Entertainment City, the Clark group of casinos and Thunderbird casinos.
It’s now been split into two different teams: the
, which is in charge of monitoring online gambling operations, and
for land-based gambling venues.
The CMED-Internet Gaming will also oversee e-sabong operations. In June,
granted permits to four online cockfight betting firms to operate in the country. The Philippines’
.
The Philippine president,
, has recently said that he allowed
because the country needs money to recover from the Covid-19 pandemic.
According to the Philippine News Agency, Duterte said: “We don’t have money… Now that we need money,
.”
In May, PAGCOR reported that
was
mainly due to the impact of Covid-19 restrictions.
The
, the Paris-based inter-governmental agency that monitors controls on anti-money laundering and terrorist financing, has placed
back on its “grey list” of untrustworthy jurisdictions.
Despite new legislation in the Philippines, the FATF said
. The country needs to take further measures in several areas as demonstrating that supervisors are using AML/CFT controls to
, among others.
said: “The mere identification of the Philippines as having ‘jurisdiction under increased monitoring’ with serious AML/CTF deficiencies does not automatically mean the imposition of countermeasures.
“It is only when the country fails to meet the deadlines will the FATF call on countries to impose countermeasures against the Philippines.”
In order to be removed from the grey list, the Philippines must
recommended by FATF within the prescribed timeframe.
