Anti Money Laundering Law Amended, Now Covers Casinos

The anti money laundering law now counts casinos, including Internet- and ship-based ones, as “covered persons”. It also set the threshold amount for coverage at a minimum of P5 million, or its equivalent in foreign currency, per casino transaction, up from the previous P500,000. The development comes more than a year after the heist of $81 million from Bangladesh Bank’s accounts with the Federal Reserve Bank of New York…

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