PH exits EU high-risk list for money laundering

The Philippines has officially exited the European Union's (EU) list of countries at "high-risk" for money laundering and terrorism financing.

The delisting, approved by the European Commission on June 10, took effect on August 5.

This move is expected to improve financial transactions and lower remittance costs for overseas Filipino workers (OFWs).

The EU welcomed the progress made by the Philippines in strengthening its anti-money laundering and counter-terrorism financing (AML/CFT) regime.

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. affirmed the BSP's commitment to continuing financial sector reforms and strengthening supervision against money laundering and terrorism financing.

The BSP is working on identifying areas where the Philippines can further uphold its commitment to combat financial crimes and maintain global standards.

This is the Philippines' third successful exit from international watchlists in 2025, following similar delistings from the United Kingdom and the Financial Action Task Force (FATF).