AMLC assures PH won't return to FATF gray list amid corruption probe

The Anti-Money Laundering Council (AMLC) assures that the Philippines faces no risk of returning to the Financial Action Task Force (FATF) gray list, despite ongoing corruption scandals.

AMLC Executive Director Matthew David stated that the agency is actively enhancing its capabilities in detecting, investigating, and prosecuting money laundering cases.

These improvements are crucial for the Philippines' compliance with FATF standards ahead of the 2027 mutual evaluation.

David's reassurance was made in light of testimonies in Congress detailing suspicious cash movements by contractors involved in the Department of Public Works and Highways' flood control program.

He confirmed that the AMLC has received suspicious and covered transaction reports pertaining to the alleged corruption scandal.