{"id":27847,"date":"2022-03-07T07:23:54","date_gmt":"2022-03-07T10:23:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27847"},"modified":"2026-04-23T10:44:58","modified_gmt":"2026-04-23T13:44:58","slug":"the-philippines-remains-on-fatf-grey-list-2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/the-philippines-remains-on-fatf-grey-list-2","title":{"rendered":"The Philippines remains on FATF grey list"},"content":{"rendered":"\n<p>The Financial Action Task Force (FATF) is keeping the Philippines on its grey list of jurisdictions that require increased monitoring due to the risk of financial crime.<\/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 decided to keep <strong>the Philippines<\/strong>\u00a0on its grey list of untrustworthy jurisdictions.<\/p>\n\n\n\n<p>The FATF acknowledged that the Philippines had &#8220;taken steps to improve its AML\/CFT regime&#8221;\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/the-philippines-placed-on-fatf-grey-list-again\" target=\"_blank\">since last June<\/a> but lists <strong>eight areas where more work needs to be done<\/strong>. It said the country must &#8220;continue to work to implement its action plan&#8221; to address the country&#8217;s AML\/CFT deficiencies. <\/p>\n\n\n\n<p>Among the recommendations, it said the Philippines needs to demonstrate that it uses AML and CFT controls &#8220;to mitigate risks associated with casino junkets.&#8221;<\/p>\n\n\n\n<p>Last 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 grey list are required to submit progress reports to FATF three times a year. The Philippines has been on the grey list before from 2000 until 2005.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Action Task Force (FATF) is keeping the Philippines on its grey list of jurisdictions that require increased monitoring due to the risk of financial crime.<\/p>\n","protected":false},"author":176,"featured_media":26652,"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 maintained the Philippines on its grey list for increased monitoring due to persistent anti-money laundering and counter-terrorist financing (AML\/CFT) deficiencies. Despite some progress, the FATF highlights eight areas requiring further action, specifically noting the need to mitigate risks associated with casino junkets. This status necessitates the Philippines to submit progress reports thrice annually.","focusai_entities":"Financial Action Task Force (FATF), Rodrigo Duterte","focusai_location":"Philippines, Paris","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (1.0), investor_analyst (0.85), supplier_vendor (0.75), journalist_researcher (0.8), tech_data (0.7)","focusai_suggestions":[{"label":"FATF Action Plan Impact","query":"What specific enhancements to AML\/CFT governance frameworks and operational controls are anticipated for Philippine-based iGaming operators to address the FATF's action plan, particularly concerning casino junkets?"},{"label":"Investment Risk Assessment","query":"How does the Philippines' continued grey-list status influence capital allocation decisions and risk assessments for international investors considering market entry or expansion within the Philippine gaming verticals?"}],"footnotes":""},"categories":[28,158,16333],"tags":[24038,23911,405],"class_list":["post-27847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-slider-home","category-south-east-asia-news","tag-fatf","tag-gambling-regulation","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27847","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=27847"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27847\/revisions"}],"predecessor-version":[{"id":27867,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27847\/revisions\/27867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26652"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}