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Philippines to Plug Money Laundering Holes in Casino Sector

Philippines to Plug Money Laundering Holes in Casino Sector

The Philippines is pushing forward with plans to tighten anti-money laundering (AML) controls in its casino sector.

The nation’s casinos, which are lightly managed by state-run operator-regulator PAGCOR, are exempt from the guidelines of its Anti-Money Laundering Act of 2001.

Representative Ben Evardone has endorsed legislation to consist of Philippine casinos under the powers of this country’s Anti-Money-Laundering Act. All that remains is always to choose the transaction threshold that is reporting.

But the cyber heist regarding the Federal Reserve Bank of February this past year, drew the relaxed nature associated with the Philippine system to the globe’s attention and severely embarrassed the country, leading to urgent calls for modification not only from lawmakers inside the Philippines but in addition from the World Bank.

On 5th, hackers flooded the Fed Bank with requests for transfers totaling almost $1 billion from an account owned by the Bangladesh Bank and used by the government of Bangladesh february.

Around $101 million had been successfully withdrawn before suspicions were raised. Some $20 million with this sum ended up being quickly traced to Sri Lanka and recovered. The rest had been transferred to Philippine bank RCBC and, from there, $46 million found its method, via a remittance company, to the casino industry that is philippine.

Time for Change

Representative Ben Evardone, president associated with

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Frequent Fantasy Sports Bills Seek to Challenge State AG’s Stance on Legality

Frequent Fantasy Sports Bills Seek to Challenge State AG’s Stance on Legality

Texas received three daily fantasy sports (DFS) bills in quick succession this week, each aimed at legalizing and developing a framework of regulation for the contests.

Texas Attorney General Ken Paxton sparked a lawsuit when he opined that daily fantasy sports had been illegal under state law. A triple-pronged legislative approach from Representative Richard Raymond hopes to challenge that opinion.

The state missed out in the DFS legislation trend that appeared regarding the dockets of legislatures across the country in 2016 as a result of fact that its legislative session is biennial, however it is apparently making up for lost time.

Each of the three bills is sponsored by State Representative Richard Raymond (D-Laredo). Their co-sponsors vary, as does the language of each bill, although they also chime in on many matters.

The three bills address the key preoccupations of legislators across the US, from player protections and operator registration fees, to the segregation of player funds as a body of legislation. Curiously, though, one bill ignores the latter notably crucial point altogether. Likewise, two bills would define DFS as games of skill, while one wouldn’t bother.

Representative Raymond is obviously hedging his wagers.

The Letter of the Law

Raymond said he hoped his triple-pronged approach would ‘clarify a confusing and law that is ambiguous affirm that dream sports are appropriate in

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As Rome Burns, Putin OKs Crimea Gambling Zone

As Rome Burns, Putin OKs Crimea Gambling Zone

Russian president Vladimir Putin, facing economic sanctions, signs in a law that will produce a ‘gambling area’ in annexed Crimea. But could his timing be any worse?

The story that is old Roman emperor Nero fiddling while his city burned to the ground features a mythic quality that could be applied to Vladimir Putin these days. Facing an international scandal after Russia’s seeming involvement in shooting a Malaysia Air passenger jet out of the sky, the Russian president has chosen now to okay a new gambling zone in Crimea; a small region simply to the south of Ukraine, in which the horrific incident took destination a week ago.

Of course, unlike Nero, Putin stays firmly in control of all things Russian, and has borne the brunt of surprisingly little international outrage over the incident that was allegedly carried out under his army’s auspices.

Putin signed into impact a law this week that https://myfreepokies.com/pokies/ will transform the annexed territory of Crimea into a gambling zone for Russian holidaymakers. Within the light of recent events in Eastern Ukraine, Putin, faced with the prospect of increased US/EU sanctions, could perhaps have selected a more moment that is apposite make this particular announcement, but he is nothing if not bull-headed, and it is clear he is determined to help make the region economically self-sufficient.

Russia overran the mainly Russian-speaking territory from the Ukraine in March, following a referendum on its status

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William Hill’s Largest Shareholder Demands Sale of Gambling Company

William Hill’s Largest Shareholder Demands Sale of Gambling Company

William Hill is once again at the center of merger speaks, but this time the organization’s shareholder that is largest wants it to be the goal of a takeover.

William Hill is allegedly back on the trading obstructs after the company’s chief stakeholder reportedly called for the group to look for a buyer that is potential.

Parvus Asset Management, a London-based hedge fund that controls 14.3 % of the British bookmaking and gambling company, is apparently pushing William Hill to accept a takeover that is qualified.

According to The Sunday circumstances, A uk weekend newspaper, Parvus thinks William Hill should turn to be acquired by, or merged with, another leading gambling firm that is online. Possible suitors consist of GVC Holdings, as well as 888 Holdings additionally The Rank Group, the two latter which tried to purchase William Hill summer that is last.

Both Parvus and William Hill declined to comment, but speculation is operating rampant in britain because of the hedge investment’s considerable power.

Founded in 1934 by the company’s namesake, William Hill employs some 16,000 people today. The bookmaker has 2,370 real betting shops across the UK, which compliments its online gaming network.

Up to Parvus

It ended up being just last October that the investment team publicly blasted William Hill’s potential aligning with Amaya, the Canadian-based business that owners PokerStars.

Parvus stated at the time, ‘