By Kyle Aristophere T. Atienza, Reporter
THE STRONG PRESENCE of offshore gambling operators complicates the Philippines’ efforts against dirty money and does not bode well for its ambition to become an investment hub, economists warned.
Money laundering in gaming activities has been a major concern of the Financial Action Task Force (FATF), which has placed Manila under its “gray list” of countries under increased monitoring for dirty money since 2021, said Enrico P. Villanueva, who teaches money and banking at University of the Philippines Los Baños.
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