AMLC revokes registration of another uncooperative POGO

MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has revoked the registration of another uncooperative Philippine offshore gaming operator (POGO), bringing the total number to six as the government intensifies its campaign against money launderers and financiers of terrorists.

The financial intelligence unit has included Winherld Entertainment World Ltd. in the list of uncooperative entities that failed or refused to cooperate with the AMLC in the conduct of its compliance-checking.

“Supervising authorities are informed that various covered persons under their respective supervisions failed or refused to cooperate with the AMLC in the conduct of its compliance-checking,” the AMLC said.

The AMLC had previously revoked the registration of MG Universal Link Ltd., Inner Strong Ltd., Smarc Group International Limited, New Wave Infotech Ltd., and Shaw Global Leisure Ltd. for failing or refusing to cooperate with supervising authorities.

The six are included in the list of POGOs approved by the Philippine Amusement and Gaming Corp. (PAGCOR).

Under Republic Act 11521 that revised RA 9160 or the Anti-Money Laundering Act (AMLA) of 2001, POGOs and service providers, as well as real estate brokers and developers, were added to the list of covered persons.

As such, the AMLC issued the amended Anti-Money-Laundering/Counter-Terrorism Financing (AML/CTF) Guidelines for Designated Non-Financial Businesses and Professions (DNFBPs) allowing the financial intelligence unit to conduct compliance-checking, with at least 24 hours prior notice, to validate the compliance of DNFBPs with the requirements of the AMLA, as well as its implementing rules and regulations, guidelines, and other AMLC issuances.

The AMLC warned failure or refusal to cooperate would mean non-compliance and would be subject to such penalties and sanctions as the AMLC and the appropriate government agency may impose under their charters.

PAGCOR turned over P6 billion in cash dividends to the National Treasury last April 11, bringing to P48.94 billion its total remittances for dividend years 2016 to 2021.

President Duterte has signed Republic Act 11590 or An Act Taxing POGOs. The Department of Finance (DOF) has estimated that the law would allow the Bureau of Internal Revenue (BIR) to collect P76.2 billion from POGOs this year and in 2023.