Halister News

(Bloomberg) -- Philippine President Rodrigo Duterte signed amendments to anti-dirty money law to include casinos, according to copy of document released by presidential office to media.

• Under Republic Act 10927 signed by Duterte on July 14, single casino cash transactions involving 5m pesos are now covered by anti-money laundering law
  • Internet, ship-based casinos also covered by new law
• Anti-money laundering council, gaming agency to craft implementing rules of new law
• NOTE: Philippines was thrown into spotlight last year for what is described as one of the largest bank heists in modern history; thieves stole $81m from Bangladesh central bank after hacking into its account at U.S. Fed, routed funds to accounts at Rizal Bank before most of money disappeared through southeast Asian nation’s casinos

To contact the reporter on this story: Andreo Calonzo in Manila at acalonzo1@bloomberg.net To contact the editors responsible for this story: Clarissa Batino at cbatino@bloomberg.net Ditas Lopez