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Manila Bulletin devider Business devider Banking & Finance devider BSP targets casino junkets as suspicious transactions surge

BSP targets casino junkets as suspicious transactions surge

Published Jul 21, 2026 03:52 pm
The Bangko Sentral ng Pilipinas (BSP) ordered domestic lenders to bolster oversight of accounts connected to casino junket operators, warning that financial flows tied to the high-stakes gaming sector pose elevated money laundering risks.
In a July 21 memorandum, BSP Deputy Governor Lyn Javier urged financial institutions to refine their anti-money laundering and counter-terrorism financing controls.
Lenders should move beyond generic gambling policies to establish targeted risk frameworks for casino junkets, Javier said.
The regulatory push follows an Anti-Money Laundering Council (AMLC) assessment that revealed the sector’s vulnerability to illicit capital flows. While commercial banks accounted for 71.6 percent of the total volume of suspicious transaction reports linked to junkets, land-based casinos accounted for more than 60 percent of the aggregate monetary value involved.
Junket operators act as intermediaries between gaming venues and high-rolling gamblers, extending credit lines, arranging room bookings, and managing chip transfers.
The BSP noted that the sector remains exposed to financial crime due to reliance on large cash movements, cross-border transfers, opaque ownership structures, and the practice of casinos holding gaming chips on behalf of clients.
The central bank also cited the growing use of shell companies and corporate fronts designed to obscure the identities of junket operators and ultimate beneficial owners when opening bank accounts.
In several instances, BSP said individuals initially onboarded as standard players or financiers were later identified as junket operators or beneficial owners following trade and link analysis.
According to the BSP, banks often face difficulties identifying tactical concealment schemes, where accounts show frequent, large cash deposits and withdrawals lacking clear trade obligations or economic rationale.
Delayed detection or improper handling of these high-risk profiles exposes the broader banking system to illicit funds, according to the banking regulator.
Under the updated guidance, banks must implement enhanced due diligence, automated transaction monitoring, independent verification with state agencies, and institutional information sharing.
The regulator said the measures align with broader efforts by the Philippine Amusement and Gaming Corp., which recently instructed regulated casinos to immediately incorporate the industry risk review findings into their internal control systems to combat dirty money.

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Bangko Sentral ng Pilipinas (BSP) casino Gaming money laundering
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