Dismissed mayor of Bamban, Tarlac, Alice Guo attends the senate hearing called by the Committee on Women, Children, Family Relations and Gender Equality in Pasay City on September 9, 2024. Mark Demayo, ABS-CBN News

Alice Guo attends Senate hearing

ABS-CBN News

<p>MANILA — Sen. Sherwin Gatchalian said Tuesday he filed a resolution calling for an investigation into the possible involvement of banks in the questionable establishment of some Philippine Offshore Gaming Operators (POGOs) in the country and their alleged suspicious transactions.</p><div><span></span><span>The Senate Resolution No. 1193 that Gatchalian filed seeks an inquiry into what he called the &quot;apparent failure&quot; of banks to flag suspicious transactions related to the construction of POGO hubs. He did not mention any banks.</span></div><div><span><a href="https://news.abs-cbn.com/news/2024/7/12/money-laundering-billions-transferred-to-mayor-alice-guo-s-bank-accounts-from-2019-to-2024-1331" id="isPasted">READ: Money laundering? Billions transferred to Mayor Alice Guo’s bank accounts from 2019 to 2024</a></span></div><div><span>The move comes after recent Senate hearings revealed questionable bank transactions amounting to hundreds of millions of pesos tied to companies linked to dismissed Bamban, Tarlac Mayor Alice Guo, also known by her alleged Chinese name Guo Hua Ping, who allegedly facilitated the creation of a POGO center in her municipality.</span></div><p>&quot;The amount involved is far beyond the financial capacity of the companies as indicated in their financial statements,&quot; the lawmaker said in a statement.<span></span><span><br/></span></p><div><span>The surge in bank transactions was most notable in 2020, Gatchalian noted, despite the COVID-19 pandemic halting businesses and economies globally. </span><span>The senator raised concerns over how banks and financial institutions allegedly failed to report these suspicious transactions that he considered &quot;significant amounts of money.&quot;</span></div><p>&quot;The failure of these banks to report these dubious transactions raises the matter of the effectiveness of their internal controls and procedures for identifying and reporting suspicious transactions,&quot; he added.</p><div><a href="https://news.abs-cbn.com/news/2024/9/9/alice-guo-grilled-on-bank-transactions-pogo-hub-s-electricity-bills-2306" id="isPasted">READ: Alice Guo grilled on bank transactions, POGO hub’s electricity bills</a><span></span><br/></div><div><span></span><span>Gatchalian said that under the Anti-Money Laundering Act, banks are required to report suspicious transactions to the Anti-Money Laundering Council within 5 working days. </span><span>He questioned whether existing regulations and procedures for identifying and reporting such transactions are effective enough.</span><span></span></div><div><span>Gatchalian also highlighted the importance of strengthening the country&#x27;s anti-money laundering and counter-terrorism financing (AML-CTF) measures, noting that the Philippines is still on the Financial Action Task Force’s grey list. </span><span>He stressed the need for better compliance from the private sector to improve the country&#x27;s AML-CTF regime.</span></div><div><span>POGOs were legalized under the administration of former President Rodrigo Duterte but after being linked to heinous crimes and other illegal activities, President Ferdinand Marcos Jr. ordered their shutdown in the country within the year.</span></div><div><span><strong>RELATED VIDEO:</strong></span></div><div><span><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/iMt0XbsdLfo?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></span><br/></div><div><br/></div>

<p>Sen. Sherwin Gatchalian called for a probe into the possible involvement of banks in the "questionable" establishment of some POGO hubs.</p>

Sen. Sherwin Gatchalian called for a probe into the possible involvement of banks in the "questionable" establishment of some POGO hubs.

Probe sought into potential bank involvement in setting up questionable POGO hubs | ABS-CBN

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Probe sought into potential bank involvement in setting up questionable POGO hubs

Probe sought into potential bank involvement in setting up questionable POGO hubs

ABS-CBN News

Published Sep 17, 2024 11:07 AM PHT

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