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Philippine police back updated anti-money laundering strategy for casinos

Regulation

General Jose Melencio Nartatez said the Philippine National Police supports President Ferdinand Marcos Jr’s 12 February directive for government agencies to work with the Anti-Money Laundering Council on an updated strategy. The plan calls for closer monitoring of high-risk sectors, including casinos, and expanded law-enforcement cooperation; officials can propose legislation if they identify gaps.

Casino operators may face closer monitoring under the updated national anti-money laundering strategy.

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Regulation

ADM's Liberato calls for equal EU anti-money-laundering rules for licensees

Stella Liberato of Italy's ADM told Agimeg that the EU anti-money-laundering reform will apply the same obligations to gambling operators as to banks and financial intermediaries. She said the new AMLA authority will set a single rulebook across member states, with greater transparency on licensees' governance. The implementing decree for the sixth directive is still being drafted.

The EU anti-money-laundering reform will for the first time put gambling operators under the same obligations as banks and financial intermediaries, Stella Liberato of Italy's ADM said. Speaking to Agimeg at an anti-money-laundering forum in Milan, Liberato said the new AMLA authority will establish a single rulebook common to all member states, while each country remains autonomous in managing its own market.

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