MANILA, Philippines—Casinos were given a free pass as Congress Wednesday passed a tougher law against money-laundering but protected the government's bid to chase mega-dollars in Asia's gaming boom. The amendments passed by the Senate and House of Representatives apply to businesses other than banks and aim to stop the funneling of proceeds from criminal activity, as well as to block terror funding. They also raise prison terms and fines. However, Senator Teofisto Guingona said casinos and Internet gaming were excluded at the request of the House and of the state regulator Philippine Amusement and Gaming Corp. "(They) excluded cas...
Keep on reading: Casinos get a pass in laundering law
No comments:
Post a Comment