The Philippine Amusement and Gaming Corporation (PAGCOR) has warned the public to be vigilant against letters with false reports of the reopening of the POGO market.
The Executive Order banning POGOs in the Philippines was officially signed by President Marcos and unfolded at a rapid rate, with them eventually being told to disperse by the end of 2024.
“It has come to our attention that some people are enticing potential investors into paying huge amounts for supposed limited slots of POGO licenses, and saying POGOs will be supposedly operating directly under PAGCOR,” PAGCOR chairperson and chief executive officer Alejandro Tengco said.
“Should you get any text message or letter informing you that you can avail of a POGO slot, please report them immediately to PAGCOR or to the police and other law enforcement agencies because these are scammers who need to be stopped,” he added.
“POGOs remain banned, and there are no plans to bring them back, now or in the foreseeable future,” he added.
He went on to reiterate that POGOs will not be opened again under his premiership.
It was a political step that elevated the efforts of the Philippines prior to its removal from the FATF grey list.
The FATF has commenced with its initial assessment over whether necessary measures have been taken in the Philippines in order to progress with its removal from the grey list, which could be cemented by 2025.
Executive Secretary of the Philippines’ Anti-Money Laundering Council, Lucas Bersamin, stated: “This is the final step toward the country’s removal from the greylist.
“This milestone is a testament to the hard work and coordination across government agencies. It reflects our strong commitment to meeting the FATF’s stringent standards and ensuring the long-term protection of our financial system. We are confident that this progress will be affirmed during the on-site visit.
“We must continue our efforts to ensure that our reforms are implemented and sustained. Building a resilient AML/CTF regime is critical for safeguarding our financial system and our economy from illicit activities.”
