AMLC holds trainings for casino regulators and operators
To maintain efforts in understanding the recently effected Casino Implementing Rules and Regulations (CIRR) of Republic Act (RA) No. 10927, the Anti-Money Laundering Council (AMLC) and the Office of Anti-Corruption and Integrity of the Asian Development Bank (ADB-OAI) held training courses for casino operators from 4 to 5 and 7 to 8 December 2017 at the Bangko Sentral ng Pilipinas Complex. Previously, the AMLC and ADB-OAI conducted trainings for casino regulators, Philippine Amusement and Gaming Corporation (PAGCOR), Cagayan Economic Zone Authority (CEZA), and Aurora Pacific Economic Zone and Freeport Authority (APECO), from 23 to 25 October 2017 at the Century Park Hotel Manila.
The Anti-Money Laundering Act of 2001 (AMLA), as amended, ensures that the Philippines will not be used as a money laundering site for proceeds of unlawful activities. Since money launderers and their activities in the financial system are complex, the AMLC has adopted a risk-based approach to combat money laundering and terrorist financing, which optimizes resources by primarily focusing on persons, activities, and circumstances that pose the highest risk.