Lawmakers in the Philippines have set their sights on strengthening the country’s anti-money laundering laws with a new amendment that could introduce greater enforcement action against online gambling operators.
An amendment to the Anti-Money Laundering Act (AMLA) has been filed by Senator Joel Villanueva, who has argued that change is needed to react to the evolving financial landscape and increasing use of digital financial services and virtual assets.
If implemented, the new measure will expand the businesses subject to enhanced AMLA compliance requirements to include online gambling operators and virtual asset service providers, among others.
The amendment would also introduce additional customer due diligence and reporting requirements, with stronger sanctions outlined should a company be found in breach of the new regulation.
On the reforms, Villanueva said: “Sustained reforms are necessary not only to maintain compliance with international standards, but also to safeguard the credibility and resilience of the Philippine financial system.
“Money talks, but dirty money whispers usually through complicit entities. We need a tougher law to catch up with the criminals trying to cover their illicit financial tracks.”
The Philippines was added to the Financial Action Task Force’s (FATF) grey list in June 2021, before finally being removed in February 2025 after it carried out its action plan to address shortfalls in its AML enforcement strategy.
Villanueva has argued that the changes would address FATF’s emphasis on the need for stronger investigative powers, supervision of companies encompassed by a country’s AML laws and faster enforcement following infringements.
Under the proposals, the Anti-Money Laundering Council (AMLC) would be provided with greater powers to monitor and take action against suspected illegal activity, including the ability to issue orders to suspend transactions and freeze assets when deemed necessary.
Heightened black market focus
Curtailing illicit gambling activity has been a strong focus for senators in the Philippines, after agencies, including the Cybercrime Investigation and Coordinating Centre (CICC), were lambasted for failing to shut down illegal gambling operations.
Following a Senate hearing last month that examined proposed changes to the Philippines’ online gambling laws, the CICC confirmed that it has partnered with the Presidential Anti-Organised Crime Commission (PAOCC) in an effort to boost enforcement.
The Philippine News Agency reported that the CICC has been tasked with developing case files for the PAOCC, which is the leading authority tasked with tackling the black market in the Philippines.
The CICC said in a statement: “This partnership proclaims CICC and PAOCC’s commitment to spearheading the abolition of illegal online practices nationwide, persisting with the goal of purging the digital landscape and bringing the perpetrators to justice to a reputable and guarded online environment.”
