{"id":13993,"date":"2021-02-01T08:18:22","date_gmt":"2021-02-01T08:18:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=13993"},"modified":"2026-04-23T22:13:46","modified_gmt":"2026-04-24T01:13:46","slug":"philippines-president-signs-anti-money-laundering-law","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippines-president-signs-anti-money-laundering-law","title":{"rendered":"Philippines president signs anti-money laundering law"},"content":{"rendered":"\n

Rodrigo Duterte has signed a law to avoid the Philippines being grey-listed by the FATF.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- President Rodrigo Duterte<\/strong> has signed a law to strengthen anti-money laundering and terrorist financing regulations<\/strong> in order to comply with the recommendations of the global watchdog, the Financial Action Task Force (FATF).<\/p>\n\n\n\n

The Southeast Asian nation had been advised that it would be placed on the FATF’s “grey list”<\/a><\/em><\/strong>, which could impact foreign investment<\/strong>, unless the government approved stricter controls by February 1. <\/p>\n\n\n\n

The Financial Action Task Force (FATF)<\/strong>, the Paris-based inter-governmental agency, grey-listed the Philippines in 2000<\/strong> for failing to address money-laundering issues. The country was then removed from the list in 2005 after amending legislation.<\/p>\n\n\n\n

In order to avoid a new sanction, the new legislation approved by president Duterte on Friday expands the powers of the Anti-Money Laundering Council (AMLC)<\/strong>, allowing it to impose targeted financial sanctions and to apply for court summons, and search and seizure warrants.<\/p>\n\n\n\n

The law, which had been previously debated by the Senate<\/a><\/em><\/strong>, states: \u201cConsistent with its foreign policy, the state shall extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed”.<\/p>\n\n\n\n

The AMLC will be able to scrutinise transactions involving Philippine-based online casino operators, which employ thousands of mainland Chinese workers, and real-estate firms and brokers engaging in single cash transactions worth more than 7.5m pesos ($160,000).<\/p>\n","protected":false},"excerpt":{"rendered":"

Rodrigo Duterte has signed a law to avoid the Philippines being grey-listed by the FATF.<\/p>\n","protected":false},"author":2,"featured_media":13997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines has enacted a new law to strengthen anti-money laundering (AML) and counter-terrorist financing (CTF) regulations, aiming to avoid being grey-listed by the Financial Action Task Force (FATF). This legislation expands the powers of the Anti-Money Laundering Council (AMLC), enabling enhanced scrutiny of online casino operators and high-value real estate transactions. The move is critical for maintaining the nation's standing in global financial markets and mitigating risks to foreign investment.","focusai_entities":"Rodrigo Duterte, Financial Action Task Force, FATF, Anti-Money Laundering Council, AMLC, Senate","focusai_location":"Philippines, Paris","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), tech_data (0.7), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on iGaming Operators?","query":"What specific operational and compliance adjustments are Philippine-based online casino operators now mandated to implement following the expanded powers of the AMLC, particularly concerning transaction monitoring and KYC protocols?"},{"label":"Investment Climate Implications?","query":"Beyond avoiding FATF grey-listing, how might this strengthened AML\/CTF framework influence foreign direct investment flows into the Philippines, and what are the long-term implications for capital markets and sector-specific valuations?"}],"footnotes":""},"categories":[160,154,16333],"tags":[23911],"class_list":["post-13993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-legislation-news","category-south-east-asia-news","tag-gambling-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=13993"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13993\/revisions"}],"predecessor-version":[{"id":14042,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13993\/revisions\/14042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13997"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=13993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=13993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=13993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}