(February 26 2025) Top view of High-rise buildings at Ortigas Business Center is seen on Wednesday, February 26, 2025 in Quezon City. Marcos administration expects the Philippines to increase foreign direct investments following country’s removal from the Financial Action Task Force’s (FATF) nations flagged for weak anti-money laundering safeguards or grey list. Photo/Analy Labor
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The Philippines once again gained global recognition after it was removed by the European Commission (EC) from its list of “high-risk jurisdictions” closely watching anti-money laundering and counter-terrorism financing (AML/CFT) measures globally.
This is the fruit of the Bagong Pilipinas leadership under President Ferdinand R. Marcos Jr., geared toward safeguarding economic integrity.
The EC, known as the European Union’s (EU) politically independent executive arm, said the Philippines is among the countries that have effectively addressed their technical deficiencies on AML/CFT, meeting the goals of their respective action plans aligned with international standards in fighting illicit money activities.
The significant milestone in the country’s fight against AML/CFT was welcomed by Justice Secretary Jesus Crispin “Boying” C. Remulla, who vowed that the Department of Justice (DOJ) will continue to be relentless in implementing policies and measures to further advance economic integrity.
Aside from the Philippines, other countries that exited the high-risk AML/CFT list are Barbados, Jamaica, Senegal, and Uganda.
On the other hand, the removal of the Philippines from the “dirty money list” leaves only three Southeast Asian countries under close monitoring by the EC, namely: Laos, Myanmar, and Vietnam.
“This accomplishment is an affirmation of our government’s unyielding stand against money laundering and terrorism financing. It will also serve as a catalyst for the DOJ to further strengthen the rule of law not just within the Philippines but even on a global stage,” Remulla said.
To recall, in February 2025, the Philippines exited the Financial Action Task Force (FATF) “grey list” after effectively demonstrating the country's international compliance to combat AML/CFT.
