Philippine senator urges probe into banks’ role in money laundering cases linked to POGOs

Sherwin Gatchalian has questioned why banks failed to flag PHP7bn in transactions that enabled Alice Guo, the suspended mayor of Bamban, Tarlac, and her cohorts to build an offshore gaming operator hub.

The Philippines.- Senator Sherwin Gatchalian has pledged to amplify the inquiry into the potential roles of banks and other financial institutions in money laundering incidents allegedly linked to illegal offshore gaming operators.

Gatchalian questioned why banks did not raise alarms over PHP7bn (US$119m) in transactions that allowed Alice Guo, the suspended mayor of Bamban, Tarlac, and her associates to establish an offshore gaming operator hub in Bamban.

He said: “How PHP7bn have entered without having been declared by the banks and detected by the AMLC (Anti-Money Laundering Council)?”

Gatchalian, who chairs the Senate Committee on Ways and Means, said that he will soon propose a resolution to investigate the issue. He has previously indicated that criminal acts occurring in offshore gaming operator hubs, such as human trafficking, kidnapping, investment fraud and love scams, could have been prevented had banks adhered strictly to the Anti-Money Laundering Act.

Gatchalian calls for continued efforts against offshore gaming operators

A week ago, senator Gatchalian called for sustained action against offshore gaming operators. He said: “More than ever, we need to sustain our efforts to clear out all criminal syndicates that are products of POGOs. We must stay the course to ensure a safer and more secure Philippines for all Filipinos.”

In a press release issued on January 8, Gatchalian warned that although President Ferdinand R. Marcos Jr’s ban on offshore gaming operators entered force on December 31, 2024, there are illegal gaming operators that continue operating in the country disguised as business process outsourcing (BPO) companies, resorts and restaurants.

He added: “All law enforcement agencies, in close coordination with local government units, as well as the general public, must remain vigilant against the presence of offshore gaming operators offshoots disguised as legitimate business entities.”

According to Gatchalian, the Bureau of Immigration (BI) is working with other groups to track down about 11,000 former offshore gaming workers who are set for deportation.

Gatchalian mentioned that these illegal workers might get involved in crimes like kidnapping. “Because they have evaded deportation, we can safely assume that these illegal aliens are onto something unlawful and vigilance of everyone is necessary to ensure that such activities are arrested and these aliens are deported as soon as possible,” he said.

Gatchalian also thanked the Office of the Solicitor General (OSG) for its efforts to cancel birth certificates that were fraudulently acquired. “Although we commend the OSG for their action, we also want to request that they speed up their action against pretending foreigners to stop their abusive activities in the country,” he added.

See also: Philippine LCEs ordered to intensify inspections to phase out offshore gaming operators

Sherwin Gatchalian has questioned why banks failed to flag PHP7bn in transactions that enabled Alice Guo, the suspended mayor of Bamban, Tarlac, and her cohorts to build an offshore gaming…