Quadcomm to Summon Banks, AMLC Amid POGO Probe

The House of Representatives’ quad committee plans to summon several banks, the Anti-Money Laundering Council (AMLC), and the Philippine Anti-Organized Crime Commission (PAOCC) to its next hearing to investigate a large flow of funds linked to the ongoing probe into Philippine Offshore Gaming Operators (POGOs).

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Committee co-chairman, Rep. Bienvenido “Benny” Abante mentioned that while the committee wants Philippine banks and the AMLC to attend, some banks are already resisting the invitation, citing bank secrecy laws through their umbrella group, the Bankers Association of the Philippines (BAP), according to a report by the Philippine Star.

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Abante pointed out that while only 43 POGOs are legally operating, an estimated 400 exist, many hidden in provinces and gated communities. He criticized the previous Duterte administration’s policy of allowing POGOs to operate in special economic zones, bypassing centralized visa control by the Department of Foreign Affairs. He emphasized the need to look into suspicious fund movements tied to individuals under investigation, especially noting the significant influx of POGO-related funds, with an estimated ₱8 billion identified so far.

The committee also noted unusual stock market activity, suggesting POGO funds may be funneled through this route as the government moves to shut down legal POGO operations by December.

Abante also raised concerns about illegal Chinese immigrants obtaining legal status through fraudulent birth certificates, particularly in Mindanao. He intends to summon the PAOCC to the next hearing to address this issue.

The lawmaker argues that the country should not rely on gambling for economic growth, citing examples like the UAE and Malaysia, which thrive without it. Instead, he suggests focusing on the country’s untapped energy and mineral resources, including oil in the West Philippine Sea and natural gas in the Liguasan Marsh in Mindanao. He called on the nation’s billionaires to invest in energy exploration, envisioning the Philippines as the next Dubai.

“We do not need gambling in this country for this nation to be economically developed. Malaysia has no gambling. UAE has no gambling, almost all countries in the Middle East,” stated Abante.

The Manila representative plans to introduce a minimum of ten bills following the quad committee hearings. Among these proposals is a total ban on all types of gambling, including online gambling. He expressed concern that past efforts to regulate gambling have often resulted in loopholes, citing how illegal jueteng evolved into the small-town lottery.

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