The Philippine Amusement and Gaming Corporation (PAGCOR) has reported the arrest of over a dozen individuals involved in an illegal gambling operation. The regulatory crackdown took place on February 16 in Parañaque City.
A total of 12 suspects were apprehended during the operation. PAGCOR CEO and Chairman Alejandro Tengco revealed that law enforcement raided a gambling establishment, apprehending the individuals red-handed as they operated the unlicensed online platform "The Big Bet." This platform offered bets on e-sports and slot machines without obtaining the required license in the country.
The Philippines is intensifying efforts to address concerns raised by the Financial Action Task Force (FATF), aiming to be removed from the gray list. FATF has expressed dissatisfaction with the regulation of gambling activities in the country, highlighting potential risks of financing terrorism through proceeds from the black gambling market. President Ferdinand Marcos Jr. has set a goal to remove the Philippines from the gray list by the end of 2024.
