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​Philippines amends money laundering laws to include casinos

( May 30, 2017, 10:00 GMT | Official Statement) -- MLex Summary: Philippine lawmakers have passed a bill expanding the coverage of the country's anti-money laundering law to include casinos, beating the June deadline given by the Asia/Pacific Group on Money Laundering. Any single cash transaction in a casino, including Internet and ship-based transactions, worth more than 5 million pesos ($100,000) will be considered a "covered transaction" under the law. The development comes more than a year after $81 million stolen from Bangladesh Bank was laundered partly through Manila casinos.The full statement follows: ...

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