A Senate hearing of money laundering involving the theft of $81 million from the U.S. account of Bangladesh Bank, is pictured at the Philippine Senate in Manila March 17, 2016. REUTERS/Erik De Castro
MANILA: In February 2013, the Philippines was up against a deadline to amend its Anti-Money Laundering Act and get itself off the 'grey list' of a global watchdog, and lawmakers were bickering over whether to include casinos under the legislation.
With one day to go, a Congressional committee heard repeated pleas not to hamstring an industry that could rival other Asian gambling meccas by obliging casinos to report suspicious transactions. Finally, the senator chairing the meeting agreed "with a heavy heart" to exclude them, a transcript of the proceedings shows.
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