Senator Sherwin Gatchalian vows to investigate banks' potential role in money laundering linked to illegal Philippine offshore gaming operators (POGOs). He cites the case of former Mayor Alice Guo and her cohorts who used P7 billion in untracked transactions to build a POGO hub in Bamban.
Senator Sherwin Gatchalian on Monday vowed to intensify the investigation into the possible involvement of banks and other financial institutions in money laundering cases linked to the illegal activities of Philippine offshore gaming operators ( POGO s). For instance, he questioned why banks failed to flag P7 billion in transactions that enabled former Mayor Alice Guo and her cohorts to build a POGO hub in Bamban.
Gatchalian said he would soon file a resolution and call for an investigation into the matter. He earlier said criminal activities committed in POGO hubs such as human trafficking, kidnapping, investment and love scams among others could have been prevented if banks strictly complied with the AMLC. For over two years, Gatchalian has advocated for terminating all POGO operations in the country, emphasizing that transactions involving hundreds of millions in POGO-related money should have been flagged. During the last Senate hearings on POGO, the AMLC said it was still conducting its investigation on the source of funds used for the construction of the Bamban POGO hub
MONEY LAUNDERING POGO BANKS INVESTIGATION GATCHALIAN
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