Philippine Gaming Regulator Probes Alleged Money-Laundering
- Up to $100 million of suspicious funds remitted to casinos
- SEC says nation at risk of returning to dirty money watch list
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The Philippines is training its sights on the gaming sector in a renewed push to curb the transmission of illicit funds.
The Philippine Amusement and Gaming Corporation has started investigating news reports that as much as $100 million of suspicious funds were remitted to three casinos’ bank accounts, according to a statement Wednesday. The government agency expects the casinos, which it didn’t name, to submit their comments on the allegation this week.