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Getting cold feet? BDO starts flagging clients who have POGO links

The country’s biggest bank is taking more precautions against lending to individuals and firms with ties to controversial Philippine Offshore Gaming Operators (POGOs).

The country’s biggest bank is taking more precautions against lending to individuals and firms with ties to controversial Philippine Offshore Gaming Operators (POGOs).

A Babbler told us that BDO has added a supplemental form on POGOs along with the voluminous forms a borrower has to fill up in his or her application.

The Babbler said this “enhanced due diligence” checklist was unusual as other top banks have nit made this extra precaution against POGOs.

Here are the questions on BDO’s supplemental form for online gaming business:

1) Is your business classified under the gaming industry?

2) Does your business group provide service or have dealings or transactions with the online gaming industry?

3) Do you have related interest or relationship with any business or service provider under the online gaming industry?

4) Do you process transactions related to the gaming industry?

The form also has this waiver: “By signing, I undertake to advise the ban if I will be directly or indirectly exposed to the online gaming industry.”

Is BDO getting cold feet now that China President Xi Jinping has ordered the cancellation of his citizens working for POGOs and lawmakers have exposed how these offshore casinos were being used to launder dirty money?

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