Senator Win Gatchalian vowed to intensify inquiry into the possible involvement of banks and other financial institutions in money laundering cases linked to illegal activities of Philippine Offshore Gaming Operators (POGOs).
For instance, Gatchalian questioned why banks failed to flag P7 billion in transactions that enabled former Mayor Alice Guo and her cohorts to build a POGO hub in Bamban.
“Paano naipasok ang P7 billion na hindi dinedeklara ng bangko at hindi nadedetect ng AMLC?”
“Paano naipasok ang P7 billion na hindi dinedeklara ng bangko at hindi nadedetect ng AMLC?” the veteran legislator said, referring to the estimated amount of money used to build the POGO hub in Bamban.
“Money laundering is equally as big of a crime,” the chair of the Senate Committee on Ways and Means said.
The senator added that he will soon file a resolution calling for an investigation on the matter.
He previously said that criminal activities committed in POGO hubs such as human trafficking, kidnapping, investment and love scams among others could have been prevented if banks strictly complied with the Anti-Money Laundering Act.
“Transactions involving hundreds of millions in POGO-related money should have been flagged.”
For over two years, Gatchalian has advocated for the termination of all POGO operations in the country, emphasizing that transactions involving hundreds of millions in POGO-related money should have been flagged.
During the last Senate hearings on POGO, the Anti Money-Laundering Council said it was still conducting its investigation on the source of funds used for the construction of the Bamban POGO hub.
Similarly, an investigation is also being conducted into compliance issues of banks involved in POGO-related transactions.
