Casinos Are Now Covered By The Anti-Money Laundering Act

Republic Act No. 10927 expanded the coverage of the Anti-Money Laundering Act of 2001 (AMLA) to include land, ship and internet-based casinos with respect to their casino cash transactions that are related to gaming operations.
Casino cash transactions are transactions which involve the payment of cash by casinos to their customers or to any person acting on behalf of a customer and the receipt of cash by casinos paid by or on behalf of a customer. The AMLA now covers single casino cash transactions amounting to more than Five Million Pesos (P5,000,000.00) or its equivalent in any other currency.
The Anti-Money Laundering Council (AMLC) and the Philippine Amusement and Gaming Corporation (PAGCOR), together with other government regulatory agencies, are tasked to jointly promulgate the rules and regulations to implement the provisions of RA No. 10927 that are applicable to casinos.