Gatchalian seeks to probe possible bank involvement in establishment of POGO hubs

PHILIPPINES, September 17 - Press Release
September 17, 2024

Gatchalian seeks to probe possible bank involvement in establishment of POGO hubs

Senator Win Gatchalian has filed a resolution seeking to investigate the possible involvement of banks in the construction and establishment of Philippine Offshore Gaming Operators (POGOs) in the country.

The legislator filed proposed Senate Resolution 1193 calling for an inquiry in aid of legislation on banks' apparent failure to flag suspicious POGO-related transactions.

According to Gatchalian, recent Senate investigations on POGO-related activities revealed the existence of bank transactions involving companies owned by Guo Hua Ping, also known as Alice Guo, amounting to hundreds of millions of pesos which enabled the construction and establishment of the POGO hub in Bamban. The amount involved is far beyond the financial capacity of the companies as indicated in their financial statements.

"A remarkable surge in cash flows, check disbursements, and a number of transactions involving the said Guo accounts was highest in 2020 which was highly unusual and suspicious considering that the Covid-19 pandemic paralyzed businesses and economies worldwide," Gatchalian said. He noted that the transactions involved significant amounts of money but were not flagged by concerned banks and financial institutions.

"The failure of these banks to report these dubious transactions raises the matter of the effectiveness of their internal controls and procedures for identifying and reporting suspicious transactions," he said.

He pointed out that such circumstances raise questions about the adequacy of existing anti-money laundering and counter-terrorism financing (ATM-CTF) regulations and guidelines for banks and financial institutions. He stressed that Republic Act 9194 or the Anti-Money Laundering Act of 2001 requires covered institutions, including banks, to report all covered and suspicious transactions to the Anti-Money Laundering Council within five working days from the date of occurrence.

"The Philippines remains on the Financial Action Task Force's grey list, and our country needs to enhance its anti-money laundering and counter-terrorism financing activities. The private sector's support and compliance are crucial to strengthening the country's AML-CTF regime, including increased adherence with AMF-CTF obligations," he ended.

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Gatchalian gustong imbestigahan ang posibleng pagkakasangkot ng ilang bangko sa POGO

Naghain si Senador Win Gatchalian ng resolusyon na naglalayong imbestigahan ang posibleng pagkakasangkot ng mga bangko sa pagpapatayo ng Philippine Offshore Gaming Operators (POGO) sa bansa.

Ang Senate Resolution 1193 ay nananawagan para sa isang pagsisiyasat ng mga kahina-hinalang transaksyon sa mga bangko na may kinalaman sa POGO at kabiguan na masita at matukoy ang mga ito.

Ayon kay Gatchalian, ang nakaraang mga pagsisiyasat ng Senado sa mga POGO-related activities ay nagsiwalat ng mga transaksyon sa bangko na kinasasangkutan ng mga kumpanyang pag-aari ni Guo Hua Ping, na nakilala bilang Alice Guo, na nagkakahalaga ng daan-daang milyong piso. Ito ang nagbigay-daan sa pagtatayo at pagtatatag ng POGO hub sa Bamban. Ang malaking halagang nabanggit ay hindi katumbas o higit pa sa kakayahan o financial capacity ng mga kumpanya na nakasaad sa kanilang mga financial statement.

"Ang pagdaloy ng pera, mga disbursement ng tseke, at ilang mga transaksyon na kinasasangkutan ng mga nasabing Guo account ay pinakamataas noong 2020 na lubhang hindi pangkaraniwan kasunod ng pagtama ng Covid-19 na nagparalisa sa mga negosyo at ekonomiya sa buong mundo," sabi ni Gatchalian. Tanong niya, paano dumaloy ang malaking halaga ng pera kung hindi na-flag ng mga bangko.

"Ang kabiguan ng mga bangkong ito na iulat ang mga kahina-hinalang transaksyon ay nagbukas sa usapin ng pagiging epektibo o hindi ng kanilang internal control at mga patakaran," sabi niya.

Binigyang-diin niya na ang mga ganitong pangyayari ay nagdudulot ng mga katanungan tungkol sa kasapatan ng umiiral na mga regulasyon at alituntunin laban sa money laundering at counter-terrorism financing (ATM-CTF) para sa mga bangko at institusyong pampinansyal. Binigyang-diin niya na ang Republic Act 9194 o ang Anti-Money Laundering Act of 2001 ay nagmamandato sa lahat ng mga sakop na institusyon, kabilang ang mga bangko, na iulat ang lahat ng mga kahina-hinalang transaksyon sa Anti-Money Laundering Council sa loob ng limang araw.

"Nananatili ang Pilipinas sa gray list ng Financial Action Task Force, at kailangang paghusayin ng ating bansa ang mga aktibidad nito laban sa money laundering at counter-terrorism financing. Ang suporta at pagsunod ng pribadong sektor ay mahalaga sa pagpapalakas ng ating AML-CTF, kabilang ang pagsunod sa mga obligasyon ng AMF-CTF," pagtatapos niya.