The country\u2019s Anti-Money Laundering Council <\/strong>said: \u201cThe mere identification of the Philippines as having \u2018jurisdiction under increased monitoring\u2019 with serious AML\/CTF deficiencies does not automatically mean the imposition of countermeasures.<\/p>\n\n\n\n\u201cIt is only when the country fails to meet the deadlines will the FATF call on countries to impose countermeasures against the Philippines.\u201d<\/p>\n\n\n\n
In order to be removed from the grey list, the Philippines must implement the action plan\u00a0<\/strong>recommended by FATF within the prescribed timeframe.<\/p>\n","protected":false},"excerpt":{"rendered":"The Philippine regulator has established two separate teams to supervise online gaming and land-based casino operations.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippine Amusement and Gaming Corp. (PAGCOR) has restructured its compliance monitoring, establishing separate teams for online gaming and land-based casino operations to enhance oversight and revenue generation post-COVID-19. Concurrently, the Financial Action Task Force (FATF) has placed the Philippines on its \"grey list\" due to identified AML\/CFT deficiencies, particularly concerning casino junket operations, necessitating urgent implementation of an action plan.","focusai_entities":"Philippine Amusement and Gaming Corp. (PAGCOR), Rodrigo Duterte, Financial Action Task Force (FATF), Anti-Money Laundering Council","focusai_location":"Philippines, Paris","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), affiliate_publisher (0.7), marketing_crm (0.7), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"PAGCOR Restructuring Impact?","query":"What specific operational and compliance adjustments will B2B and B2C licensees need to implement to align with PAGCOR's newly segmented CMED-Internet Gaming and CMED-Integrated Resorts oversight frameworks?"},{"label":"FATF Grey List Impact?","query":"Beyond the identified junket operator risks, what are the precise implications of the FATF grey-listing on the Philippines' capital markets, international banking relationships, and the cost of doing business for iGaming entities?"}],"footnotes":""},"categories":[156,158,16333],"tags":[4138,405],"class_list":["post-20103","post","type-post","status-publish","format-standard","hentry","category-regulation-news","category-slider-home","category-south-east-asia-news","tag-online-gambling","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=20103"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20103\/revisions"}],"predecessor-version":[{"id":20123,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20103\/revisions\/20123"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=20103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=20103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=20103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}