EU removes PH from high-risk list for money laundering, terrorist financing

Malacañang welcomed the European Union's decision to remove the Philippines from its list of high-risk countries for money laundering and terrorist financing.

Palace Press Officer Claire Castro stated that this move reflects the Marcos administration's efforts to strengthen financial safeguards and attract foreign investment.

The EU approved the regulation on June 10, which took effect on August 5, following earlier milestones like the Financial Action Task Force lifting the Philippines from its gray list in February.

President Ferdinand R. Marcos Jr. has directed the Bangko Sentral ng Pilipinas to intensify reforms that will further strengthen the financial system and drive economic growth.

Castro emphasized that the central bank would continue pushing long-term anti-money laundering reforms to sustain progress and maintain international investor confidence.