PRESIDENT Ferdinand Marcos Jr. issued Executive Order (EO) 74, ordering the immediate ban on offshore gaming operations in the Philippines.
The prohibition, signed on Tuesday, Nov. 5, by the President through Executive Secretary Lucas Bersamin, covers Philippine offshore gaming operators (POGOs) and internet gaming licensees (IGLs).
“The State has the paramount duty to safeguard national security, maintain public order, uphold the rule of law, protect the safety of its citizens, and ensure the integrity of the social fabric of the nation,” the order read.
“In pursuit of such duty, an unequivocal ban of POGO/IGL operations was pronounced during the State of the Nation Address on 22 July 2024,” it added.
It said the risks and negative consequences “significantly outweigh the economic and social benefits derived from the POGO industry,” based on the study conducted by the Department of Finance (DoF).
The negative effect of offshore gaming on the Philippine economy was indicated in a report by the Anti-Money Laundering Council (AMLC), saying POGOs were susceptible to money laundering, fraud, and other illicit financial activities harmful to the integrity of the national financial system.
The executive order mandates the creation of a panel to address the impact of the foregoing ban on sectors of the economy and ensure the reintegration of displaced Filipino workers.
Its members would include representatives from the DoF, Department of Trade and Industry, Department of Budget and Management, Department of Social Welfare and Development, Department of Information and Communications Technology, and National Economic and Development Authority.
The panel on enforcement of the ban would be led by the Presidential Anti-Organized Crime Commission, assisted by the Department of Justice.
Members include the Department of the Interior and Local Government, Philippine National Police, National Bureau of Investigation, AMLC, Securities and Exchange Commission, and Cagayan Economic Zone Authority.
Be the first to comment