The Philippine Senate has moved closer to including casinos in the coverage of the country’s Anti-Money Laundering Act, as one of the Senate’s panels began analysing three different bills on the matter.
The panel “agreed in principle to endorse the inclusion of casinos in the law,” said Representative Ben Evardone, as quoted by the Philippine Star newspaper. Mr Evardone chairs the Senate’s Committee on Banks and Financial Intermediaries.
“We have tasked a small group to consolidate three related bills. The only issue that remains to be resolved has to do with the threshold amount that would trigger the filing of a suspicion transaction report with the Anti-Money Laundering Council (AMLC),” he reportedly said.