Casinos required to report money laundering cases to AMLC —Drilon

Casinos in the country are obligated to report to the Anti-Money Laundering Council (AMLC) supposed cases of money laundering, Senate Minority Leader Franklin Drilon said Sunday.

Drilon made the remark following the report of Senator Richard Gordon that Chinese nationals have brought into the country millions of dollars in cash, raising suspicions about where these amount will be used.

In a Dobol B sa News TV interview aired on GMA News TV, Drilon, author of Republic Act 9160 or the Anti-Money Laundering Act, said there is nothing wrong with foreigners bringing money into the country, so long as they declare it to the Bureau of Customs.

"Sa ating Anti-Money Laundering Law, kung aabot ng P5 milyon or $100,000 ay dapat i-report lalo na kung suspicious transaction. Dahil ang basic na prinsipyo sa Anti-Money Laundering Act 'yung tinatawag na KYC. Kailangan kilala mo ang iyong customer," he said.

"Kaya may mga identification card na kailangan bago ilipat sa casino. Kung mag-surrender kayo, bumili kayo ng chip, ang requirement ay tinatawag nating KYC or 'know your customer.' Kaya hindi dapat makalusot ito," he added.

Money laundering is defined under RA 9160 as "a crime whereby the proceeds of an unlawful activity are transacted, thereby making them appear to have originated from legitimate sources."

According to Gordon, at least 60 Chinese citizens managed to slip in cold cash amounting to millions of dollars into the country.

Such huge sums of money, he said, could be used for anomalous purposes, ranging from funding state enemies, engaging in real estate, and even for gambling.

"Puwede kang magsugal at ang talagang pakay niyan, kunwari magsusugal ka, isasauli ngayon sa 'yo, nanalo ka. Tapos ide-deposit mo sa bangko. Legal na 'yun ngayon. Puwede mo nang ipadala sa Hong Kong, i-tseke na lang," Gordon said in a separate interview.

Drilon said casinos should report these supposed cases of money laundering in gambling.

"May obligasyon ang casino sa Anti-Money Laundering Council, at ang PAGCOR (Philippine Amusement and Gaming Corporation) ay sila ang dapat mag-supervise and monitor sa mga casino for compliance with this transaction reporting," he said.

Gordon said the Senate blue ribbon committee, which he chairs, will hold its own investigation into the alleged money laundering acts involving Chinese nationals.

Drilon said during the hearings, casinos and the PAGCOR should be asked whether they are performing their mandate in relation to this matter.

"Tanungin sila sa kanilang compliance sa batas against money laundering. 'Yung PAGCOR ba sinu-supervise niya itong mga casinos, at ang Anti-Money Laundering Council, ginagawa ba nila ang kanilang tungkulin dito?" he said. —Erwin Colcol/KG, GMA News