Financial Action Task Force

The Philippines was removed from the Financial Action Task Force (FATF) gray list on March 1, 2025, marking a significant achievement for combating money laundering and terrorism financing. This removal is attributed to government reforms, including President Marcos's ban on Philippine Offshore Gaming Operators and the implementation of Executive Order No. 33. The exit from the FATF gray list is expected to boost investment climate and reduce remittance fees for overseas Filipino workers.

This is an AI-generated summary based on recent coverage.
Last updated at April 4, 2025.

Recent stories about Financial Action Task Force

BOC ESS seizes P25.6B in smuggled goods, marks 40% increase

From January to March 2025, the Bureau of Customs' Enforcement and Security Service (ESS) confiscated smuggled goods worth nearly P25.6 billion, marking a 40 percent increase from the same period last year.
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BSP: Prevent return to FATF gray list amid digital money laundering risks

BSP Governor Eli M. Remolona emphasized the need to prevent the Philippines from returning to the FATF's 'gray list' due to digital technology threats.
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DOJ secures seven money laundering, terrorism convictions; Philippines off FATF grey list

On Saturday, the Department of Justice announced that it has secured at least seven convictions related to money laundering and terrorism financing from 2021 to the end of 2024.
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Marcos' POGO ban key in removing PH from FATF grey list

President Ferdinand 'Bongbong' Marcos Jr.'s decision last year to ban Philippine Offshore Gaming Operators (POGOs) contributed significantly to the Philippines being removed from the Financial Action Task Force (FATF) grey list.
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Philippines removed from FATF grey list due to government reforms

On Saturday, Malacañang announced that the Philippines has been removed from the Financial Action Task Force (FATF) grey list due to government efforts and reforms in combating money laundering and terrorism financing.
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BOC's strict border controls remove PH from FATF Gray List

The Bureau of Customs (BOC) played a key role in removing the Philippines from the Financial Action Task Force (FATF) Gray List.
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SEC intensifies reforms, launches beneficial ownership registry

The Securities and Exchange Commission (SEC) is intensifying reforms by launching a beneficial ownership registry, tightening oversight of financial institutions and non-profits, and drafting new crypto asset regulations to prevent the Philippines from returning to the Financial Action Task Force's (FATF) 'gray list'.
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Philippines removed from FATF grey list, boosting investor confidence

The European Chamber of Commerce of the Philippines (ECCP) celebrated the country's removal from the Financial Action Task Force's (FATF) grey list, citing it as a boost to investor confidence and economic growth.
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Philippines exits FATF grey list, sparks human rights concerns

The Philippines has exited the Financial Action Task Force (FATF) grey list, reflecting significant progress in its financial systems but raising concerns over the government’s methods.
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Philippines completes FATF action plan, moves off grey list

The Philippine government has made significant progress in addressing money laundering and counter-terrorism financing, according to a recent report by the International Monetary Fund (IMF).
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