{"id":19545,"date":"2021-06-28T15:17:25","date_gmt":"2021-06-28T15:17:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=19545"},"modified":"2026-04-23T18:08:38","modified_gmt":"2026-04-23T21:08:38","slug":"the-philippines-placed-on-fatf-grey-list-again","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/the-philippines-placed-on-fatf-grey-list-again","title":{"rendered":"The Philippines placed on FATF \u201cgrey list\u201d again"},"content":{"rendered":"\n<p>The FATG has said the Philippines needs to increase controls to mitigate the risks associated with junket operators.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- The\u00a0<strong>Financial Action Task Force (FATF)<\/strong>, the Paris-based inter-governmental agency that monitors controls on anti-money laundering and terrorist financing, has placed <strong>the Philippines\u00a0<\/strong>back on its &#8220;grey list&#8221; of untrustworthy jurisdictions. <\/p>\n\n\n\n<p>Despite new legislation in the Philippines, the FATF said the country needs to introduce more controls over risks associated with junket operators.\u00a0<\/p>\n\n\n\n<p>It praised the\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-president-signs-anti-money-laundering-law\">Philippines&#8217; progress<\/a>\u00a0during the last months after <strong>President Rodrigo Duterte<\/strong>\u00a0signed a law to strengthen\u00a0<strong>anti-money laundering and terrorist financing regulations<\/strong> in February.<\/p>\n\n\n\n<p>However, it said the country needs to take further measures in several areas:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Demonstrating that supervisors are using AML\/CFT controls to mitigate risks associated with casino junkets.<\/li><li>Implementing the new registration requirements for<strong>\u00a0Money or Value Transfer Services<\/strong>\u00a0and applying sanctions to unregistered and illegal remittance operators.<\/li><li>Demonstrating an increase in the use of financial intelligence and an increase in ML investigations and prosecutions in line with risk.<\/li><li>Demonstrating an increase in the identification, investigation and prosecution of TF cases.<\/li><\/ul>\n\n\n\n<p>The European igaming hub of <a href=\"https:\/\/focusgn.com\/malta-put-on-fatf-money-laundering-grey-list\">Malta has also been placed on the FATF grey list<\/a>.<\/p>\n\n\n\n<p>The\u00a0<strong>FATF<\/strong> <strong>previously grey-listed the Philippines in 2000<\/strong>\u00a0for failing to address money-laundering issues. The country was removed from the list in 2005 after amending legislation.<\/p>\n\n\n\n<p>Inclusion on the FATF\u2019s \u201cgrey list\u201d could push up costs for business and increase regulatory scrutiny.<\/p>\n\n\n\n<p><strong>The country\u2019s Anti-Money Laundering Council\u00a0<\/strong>said: \u201cThe mere identification of the Philippines as having \u2018jurisdiction under increased monitoring\u2019 with serious AML\/CTF deficiencies does not automatically mean the imposition of countermeasures.<\/p>\n\n\n\n<p>\u201cIt is only when the country fails to meet the deadlines will the FATF call on countries to impose countermeasures against the Philippines.\u201d<\/p>\n\n\n\n<p>In order to be removed from the grey list, the Philippines needs to <strong>implement the action plan\u00a0<\/strong>recommended by FATF within the prescribed timeframe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FATG has said the Philippines needs to increase controls to mitigate the risks associated with junket operators.<\/p>\n","protected":false},"author":176,"featured_media":19567,"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 Financial Action Task Force (FATF) has grey-listed the Philippines again, citing insufficient controls over casino junket operators and deficiencies in anti-money laundering (AML) and counter-terrorist financing (CFT) measures. This designation necessitates the Philippines to implement a prescribed action plan to avoid potential international countermeasures and increased business costs. Malta is also noted as being on the FATF grey list.","focusai_entities":"Financial Action Task Force (FATF), Anti-Money Laundering Council, Rodrigo Duterte","focusai_location":"Philippines, Paris, Malta","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"FATF Countermeasures Impact?","query":"What specific countermeasures could the FATF impose if the Philippines fails to meet its action plan deadlines, and what would be the direct financial implications for regulated entities?"},{"label":"Junket Scrutiny on GGR?","query":"How will the increased scrutiny on junket operators impact the GGR and NGR projections for Philippine-based casinos, and what operational adjustments are anticipated?"}],"footnotes":""},"categories":[28,158,16333],"tags":[23911,23908],"class_list":["post-19545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-slider-home","category-south-east-asia-news","tag-gambling-regulation","tag-gaming-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19545","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=19545"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19545\/revisions"}],"predecessor-version":[{"id":19572,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19545\/revisions\/19572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19567"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=19545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=19545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=19545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}