APECO cited as Phl exit from grey list

The Anti-Money Laundering Council (AMLC) has recently cited the Aurora Pacific Economic Zone and Freeport Authority (APECO) for its efforts that helped the Philippines exit the Financial Action Task Force (FATF) grey list.

APECO President and CEO Gil G. Taway IV received the commendation from AMLC Chairman and Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr. in a ceremony held at the BSP Assembly Hall on 23 October 2025.

The recognition is part of AMLC’s acknowledgment of partner agencies whose cooperation and reforms strengthened the country’s anti-money laundering and counter-terrorism financing framework.

According to Taway, the award from AMLC is a testament to the redemption-to-resurgence journey under his leadership, serving as a strong signal to potential locators of the developments in APECO, which is rooted in transparency and adherence to internationally recognized standards.

Under PCEO Taway’s administration, which started in October 2023, APECO has implemented significant transparency and accountability measures, aligning its operations with international financial compliance standards.

The agency, as part of the National Anti-Money Laundering and Counter-Terrorism Financing Coordinating Committee, fulfilled its commitments under Immediate Outcome 3, which assesses the effectiveness of supervision and preventive measures across sectors.

The most notable is the management’s policy shift away from online gaming and gambling toward its strategic focus on national security, energy security, food security, tourism, and community development.

The administration’s focus on sustainable development and inclusive growth—particularly in supporting indigenous peoples (IPs) and marginalized groups—underscores its vision of economic transformation rooted in integrity and social responsibility.

“This recognition from the AMLC reinforces our commitment to transparency, efficiency, and accountability,” PCEO Taway said. “APECO’s transformation is driven by our goal to be a trusted hub for industrial and commercial growth while ensuring the upliftment of the communities we serve.”

The Philippines’ exit from the FATF grey list in 2025 marks a major milestone in restoring investor confidence and strengthening the country’s financial integrity.

To recall, a Philippine offshore gaming operator (POGO) was operating inside the Casiguran-based ecozone until it ceased operations in the second half of 2024, aligning with PCEO Taway’s hardline stance against POGOs.