Malacañang has celebrated the Philippines’ exit from the Financial Action Task Force (FATF) greylist, highlighting the country’s alignment with international standards.
Executive Secretary Lucas Bersamin emphasized that the development boosts the nation’s economic competitiveness and strengthens its anti-money laundering and counter-terrorism financing framework.
The Philippines was placed on the FATF greylist in 2021 and had to address 18 action items to secure its removal, which was achieved after an onsite visit in January 2024.
President Marcos played a crucial role, issuing several directives to accelerate the country’s compliance.
The Bangko Sentral ng Pilipinas (BSP) and the Anti-Money Laundering Council (AMLC) also praised the collaborative effort behind this achievement, noting that it will help improve the financial system and reduce international fund transfer costs for Filipinos.
PALACE HAILS PHILIPPINES’ REMOVAL FROM FATF GREYLIST
Latest from Politics
Trade Secretary Cristina Roque announced that manufacturers will defer price hikes on necessities and prime commodities
Senator Imee Marcos has called for the full public release of the Independent Commission for Infrastructure
Malacañang urged critics of President Ferdinand Marcos Jr. to pause politicking and reflect this Holy Week
Quezon City Rep. Patrick Michael Vargas urged the House of Representatives to pass House Bill No.
The Sandiganbayan has denied the bail petitions of nine co-accused of former lawmaker Zaldy Co. in