Duterte puts casinos under money laundering monitoring

By: - Reporter / @NCorralesINQ
/ 12:21 PM July 19, 2017

Single casino cash transactions of more than P5 million are now ‘covered transactions’ under the Anti-Money Laundering Act or AMLA. INQUIRER.net STOCK PHOTO

President Rodrigo Duterte has signed into law Republic Act 10927, which places casino operations under the Anti-Money Laundering Act (AMLA) in a bid to curb illegal financial transactions.

RA 10927 amends RA 9160 also known as Anti-Money Laundering Act of 2001.


With the new law, casinos — including internet and ship-based operations — are now “covered” by the AMLA.

It states that a single casino cash transaction of more than P5 million, or its equivalent in other currencies, is now a “covered transaction.” Such a transaction must be reported to the Anti-Money Laundering Council (AMLC).


Under RA 10927, the Court of Appeals can issue a 20-day freeze order on any monetary instrument or property suspected to be related to unlawful activity. CBB

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Amla, AMLC, news, RA 10927, RA 9160, Rodrigo Duterte
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.