Senator Sherwin Gatchalian plans to investigate local banks for their alleged negligence in detecting and reporting money laundering activities linked to Philippine Offshore Gaming Operators (POGOs). He cites the case of dismissed Bamban, Tarlac Mayor Alice Guo, who was allegedly involved in money laundering operations. Gatchalian questions how P7 billion was deposited without detection by the Anti-Money Laundering Council (AMLC) and why banks didn't flag suspicious transactions.
Senator Sherwin Gatchalian on Wednesday said that he will pursue the investigation into local banks' accountability on their supposed "negligence" of the alleged money laundering activities linked to dismissed Bamban, Tarlac Mayor Alice Guo."We will pursue that... 'Yan ang isang anggulo na hindi nabigyan ng spotlight but money laundering is equally as big of a crime that POGO s has perpetuated.
In the said resolution, Gatchalian noted the existence of bank transactions involving Guo’s companies amounting to "hundreds of millions of pesos" which supposedly enabled the construction and establishment of the POGO hub in Bamban, the town where Guo was then mayor of.Such an amount is far beyond what the financial statements indicated in the financial capacity of these companies, Gatchalian noted.
Money Laundering POGO Banks Philippines Investigation
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