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. 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).
