{"id":23856,"date":"2021-10-25T10:25:35","date_gmt":"2021-10-25T13:25:35","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23856"},"modified":"2021-10-25T13:54:54","modified_gmt":"2021-10-25T16:54:54","slug":"the-philippines-remains-on-fatf-grey-list","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/the-philippines-remains-on-fatf-grey-list","title":{"rendered":"The Philippines remains on FATF \u201cgrey list\u201d"},"content":{"rendered":"\n<p>The Financial Action Task Force (FATF) has kept the Philippines on its \u201cgrey list\u201d of untrustworthy jurisdictions. The country 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.- Despite efforts to strengthen\u00a0<strong>anti-money laundering and terrorist financing regulations,\u00a0<\/strong>the\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/the-philippines-placed-on-fatf-grey-list-again\">Financial Action Task Force (FATF)<\/a>\u00a0has said The Philippines needs to introduce more controls against risks associated with junket operators.\u00a0<\/p>\n\n\n\n<p>It will therefore maintain The Philippines on its grey list of untrustworthy jurisdictions, although it acknowledged that since June, the Philippines \u201chas taken steps to improve its AML\/CFT system\u201d. The FATF listed eight areas where more work is needed based on an action plan previously proposed by the Philippine authorities. <\/p>\n\n\n\n<p>The required changes include controls to mitigate the risks associated with casino intermediaries.\u00a0<\/p>\n\n\n\n<p>In February,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-president-signs-anti-money-laundering-law\" rel=\"noreferrer noopener\">President Rodrigo Duterte<\/a>&nbsp;signed a law to strengthen&nbsp;<strong>anti-money laundering and terrorist financing regulations<\/strong>&nbsp;in order to comply with the recommendations of the FATF.<\/p>\n\n\n\n<p>Countries on the greylist are required to submit progress reports to FATF three times a year. The Philippines was put on the grey list before, from 200o until 2005.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Action Task Force (FATF) has kept the Philippines on its \u201cgrey list\u201d of untrustworthy jurisdictions. The country needs to increase controls to mitigate the risks associated with junket&#8230;<\/p>\n","protected":false},"author":176,"featured_media":18057,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"footnotes":""},"categories":[28,158,16333],"tags":[24038,23911],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23856"}],"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=23856"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23856\/revisions"}],"predecessor-version":[{"id":23874,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23856\/revisions\/23874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18057"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}