Malacañang credited President Ferdinand Marcos Jr.’s ban on Philippine Offshore Gaming Operators (POGOs) as a key factor in the country’s removal from the FATF grey list.
Presidential Communications Undersecretary Claire Castro said the move aligned with global anti-money laundering standards under Executive Order 33.
The Philippines has been under increased monitoring since 2021 due to financial crime risks.
With its removal, the country is expected to see smoother financial transactions, increased foreign investments, and lower remittance fees for OFWs.
Marcos ordered the POGO ban last year due to their involvement in criminal activities like human trafficking and fraud.
Source: PhilNews24 | March 03, 2025
