Senator Angara made the call as he disclosed an AMLC report in 2020 which showed that some service providers (SPs) of POGOs were linked with entities that are alleged to be beneficiaries of fraud and drug-related money.
Senator Juan Edgardo "Sonny" Angara on Tuesday prodded the Philippine Amusement and Gaming Corporation and the Anti-Money Laundering Council to tighten their regulations of Philippine Offshore Gaming Operators .
"Ito po, Mr. Chairman ang mabigat dito sa report. 'Some of the service providers have a nexus with previously identified entities alleged to be beneficiaries of fraud and drug related money'," Angara said, citing the report. The senator also pointed out the lack of accountability measures in the POGO industry as he observed that there is a low level of beneficial ownership identification in these SPs based on the PAGCOR data and the AMLC report.
Under the AMLC report, Angara said it was found that there's a high number of unregulated or unsupervised SPs as SPs are not within the realm of AML-CFT supervision, making these prone to abuse and exploitation by criminal organizations.
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