Senator to push anew inclusion of casinos in AMLA

Senator Teofisto Guingona III. INQUIRER FILE PHOTO

MANILA, Philippines —Despite opposition, an administration senator will push anew the inclusion  of casinos in the coverage of the Anti-Money Laundering Act (AMLA), citing  the country’s “international obligation” to fight money laundering and terrorist financing activities.

The proposal to include casinos in the law was part of a bill that seeks to expand AMLA’s coverage but the specific provision was dropped when  the  measure was approved by Congress in February.

This time, however, Senator Teofisto Guingona III, co-chairman of the  congressional oversight committee on the Anti-Money Laundering Law, was “hopeful” that  the  proposal  would  be passed  in  the next  Congress.

Guingona  said  they would try to address fears by industry players that casinos’ inclusion in the  AMLA coverage  would affect  their businesses.

“We’ll listen to the industry players and see how they feel and see how they think about the anti-money laundering requirement. Maybe we can find a common ground acceptable to all,”  he said in a press conference.

“We’ll try this time. I think  we can ventilate some more this time because there are more industry players now  and therefore we can start the hearings and see what their views are.”

“But definitely, in other countries, there is also money laundering  requirements in the casinos.  So we have to see how we can also  comply with the requirement,” the senator  pointed out.

Asked how  they could get  the support  of oppositors like  the Philippine Amusement and Gaming  Corporation for instance, Guingona said: “Maybe you should ask Pagcor.”

“But again, really, as I said, a common ground might be able to be hammered out this time and acceptable to all. So let’s see,”  the  senator  added.

But as a signatory to a treaty against   money laundering,  Guingona said,  the  Philippines  is “mandated”  to comply  with its obligations.

“We’re  all doing this in the spirit of international cooperation. So we have signed this treaty and therefore we have mandated ourselves to comply,” he said.

Guingona was also confident  that President Benigno Aquino would  not veto the  proposed measure once Congress approves it.

“We don’t consult (the President) because we’re an independent body. But again I don’t see it being vetoed because it is in the context of our complying with our obligations under the treaty,”  he said.