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Philippine Senator Pushes for Inquiry into Banks’ Role in Pogo Funding

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Philippine Senator Sherwin Gatchalian has proposed Senate Resolution 1193 to investigate the failure of local banks to detect POGO-related suspicious transactions tied to criminal activities, following the case of former Bamban, Tarlac Mayor Alice Guo.

Gatchalian, in his resolution, highlighted bank transactions involving Guo’s companies, which amounted to hundreds of millions of pesos and allegedly funded the construction of a POGO hub in Bamban. The amount far exceeded the financial capacity reflected in the companies’ financial statements.

He pointed out a significant increase in cash flows, check disbursements, and transactions involving Guo’s accounts, peaking in 2020—an anomaly given that the COVID-19 pandemic had severely disrupted businesses and economies worldwide.

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Gatchalian noted that despite these large transactions, the banking system failed to flag them as suspicious. He raised concerns about the banks’ inability to report such dubious activities, questioning the effectiveness of their internal controls and procedures for identifying and reporting suspicious behaviour.

The senator emphasised that financial institutions are responsible for analysing financial data to detect transactions that may indicate money laundering.

These circumstances, according to Gatchalian, raise doubts about the adequacy of current Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations and guidelines for banks and financial institutions.

Gatchalian also pointed out that the Philippines remains on the Financial Action Task Force (FATF) grey list. The country must improve its AML/CTF efforts, including prosecuting money laundering and terrorism financing, addressing beneficial ownership information and strengthening cross-border declaration measures.

While President Ferdinand Marcos Jr. has instructed all government agencies to meet the necessary requirements to remove the country from the FATF grey list, Gatchalian stressed that private sector compliance is equally crucial to strengthening the country’s AML/CFT regime. This includes increased adherence to obligations, such as reporting covered and suspicious transactions.

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The post Philippine Senator Pushes for Inquiry into Banks’ Role in Pogo Funding appeared first on European Gaming Industry News.

Asia

FeedConstruct Teams Up with H League on Exclusive International Betting Rights

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FeedConstruct has announced a new partnership with the Korean Handball Leagues, securing exclusive worldwide streaming and data collection rights for the prestigious handball competitions.

Through this partnership, FeedConstruct will provide comprehensive coverage of more than 160 matches for each upcoming season throughout the partnership. Companies worldwide will have access to high-quality streaming and precise data, ensuring they capture every moment of the action.

Established in 2011, the Korean Handball League is entering its 14th edition, and the upcoming season promises to be highly competitive. In the women’s tournament, all eyes will be on the SK Sugar Gliders, the reigning back-to-back champions of the Asian Women’s Club League Handball Championship. On the men’s side, the Doosan Handball Club, which has claimed the league title an impressive 12 times, will be a dominant force.

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South Korea is recognised as the most successful handball nation in Asia, boasting a combined total of 25 titles in the Asian Handball Championship between its Men’s and Women’s National Teams. This partnership with the Korean Handball League aims to enhance the visibility of handball, offering unparalleled access to the excitement and intensity of H League matches.

By delivering comprehensive streaming and data insights as part of this exclusive rights deal, FeedConstruct further solidifies its position as a leading sports streaming and data provider, continually enhancing the fan experience worldwide.

The post FeedConstruct Teams Up with H League on Exclusive International Betting Rights appeared first on European Gaming Industry News.

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Asia Pioneer Entertainment Holdings Limited appointed Maria Garcia to its Board of Directors

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Asia Pioneer Entertainment Holdings Limited is pleased to announce Ms. Maria Garcia was appointed as APE’s first female Director since the company’s listing on the Hong Kong Stock Exchange in 2017, with effect from 30 September 2024. She oversees the company’s growth and development in both the Macau and Southeast Asian markets. Prior to joining APE, Ms. Garcia spent over 17 years in public relations and event management, coordinating significant events in Macau, Hong Kong, and China for private, diplomatic, and governmental entities.

Ms. Garcia joined APE in 2006 as Sales Director of the Corporate Sales and Marketing Department, serving for six years before leaving to pursue various roles within the gaming sector and founding her own business. In 2020, she returned to APE as a Business Consultant and resumed her role as Sales Director for Macau and Southeast Asia in December 2022, where she continues to serve to this day.

With more than 36 years of work experience, nearly 20 of which have been in the gaming industry, Ms. Garcia’s achievements and professionalism are both significant and commendable.

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Mr. Herman Ng, Chief Executive Officer and Executive Director of APE, stated, “We are delighted to welcome Maria to the board. I have had the pleasure of working with her for over a decade. She is an industry expert with extensive knowledge, experience, and a wide network of connections. I am confident she will excel in this role.”

Speaking about her new position, Ms. Maria Garcia expressed her excitement, stating, “It is a true honor to join APE’s board as its first female director. The past few years have been challenging for the company, particularly due to the impact of the global pandemic. I am proud of our resilience and the progress we’ve made together during these times. In my new role, I am committed to fully utilizing my strengths to tackle future opportunities and challenges alongside APE as we work towards a bright and successful future.”

With her extensive experience and leadership, Ms. Garcia’s appointment underscores APE’s commitment to diversity and excellence in the gaming industry, paving the way for future growth and innovation.

The post Asia Pioneer Entertainment Holdings Limited appointed Maria Garcia to its Board of Directors appeared first on European Gaming Industry News.

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AFC signs MoU with IBIA to strengthen fight against match-fixing

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The Asian Football Confederation (AFC)’s resolve to protect and safeguard the beautiful game in Asia was further underlined today through the signing of a four-year Memorandum of Understanding (MoU) with the International Betting Integrity Association (IBIA).

Moving forward, the AFC and IBIA will work closely to detect irregular betting patterns and suspicious activities in football matches across Asia. IBIA, through its Monitoring and Alert Platform, will share real-time data on suspicious betting activity with the AFC, further enhancing the AFC’s abilities to promptly investigate potential match manipulation.

The AFC General Counsel and Director of Legal Affairs, Mr. Andrew Mercer said: “The AFC’s Vision and Mission has outlined our steadfast ambitions to uphold the highest ethical and sporting standards, and we are committed towards preserving our key tenets of fair play and integrity.

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“Leveraging on strong collaborations with the world’s leading organisations is imperative to our fight against match-fixing and this MoU with IBIA further strengthens our ability to ensure football in Asia remains clean for the benefit of our future generation of fans, players and all our valued stakeholders.”

Khalid Ali, CEO of IBIA, said: “Cooperation is a vital part of any effective integrity monitoring and investigatory framework and IBIA is delighted to be able to strengthen its relationship with the AFC through this important information sharing collaboration. For its part, IBIA will seek to safeguard the AFC ecosystem by utilising the monitoring of its members’ global customer account activity, which covers over $300bn in sports betting per annum.”

Mr. Mercer, added: “The AFC is committed to promoting integrity, ethics, and fair play in Asian football and we are pleased to work with IBIA as we strive to enhance our capabilities to monitor and address suspicious activities, ensuring that football in Asia is safeguarded from the threats of match manipulation.”

The MoU between the AFC and IBIA marks a significant step forward in the fight against match-fixing in Asian football with both organisations dedicated to creating a secure environment for the sport, fostering trust amongst fans, players and all stakeholders.

The post AFC signs MoU with IBIA to strengthen fight against match-fixing appeared first on European Gaming Industry News.

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