{"id":777015876,"date":"2024-05-28T09:54:06","date_gmt":"2024-05-28T12:54:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015876"},"modified":"2026-04-22T09:47:58","modified_gmt":"2026-04-22T12:47:58","slug":"moodys-notes-rise-in-aml-incidents-in-the-philippines","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/moodys-notes-rise-in-aml-incidents-in-the-philippines","title":{"rendered":"Moodys notes rise in AML incidents in The Philippines"},"content":{"rendered":"\n<p>However, it predicts the Philippines will exit the FATF grey list soon.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- Moody\u2019s Analytics\u00a0has forecast that the Philippines could soon exit\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-remains-on-fatf-grey-list-2\" target=\"_blank\" rel=\"noreferrer noopener\">the Financial Action Task Force (FATF) Grey List<\/a> soon despite facing significant challenges related to money laundering, particularly in the gaming industry. <\/p>\n\n\n\n<p>Choon Hong Chua, senior director and head of the Financial Crime Practice Group for Asia and the Pacific and the Middle East, told Business World that the country was making progress in strengthening anti-money laundering and counter-financing of terrorism (AML\/CFT) controls, including the implementation of stricter regulations and increased enforcement measures.<\/p>\n\n\n\n<p>However, according to Moody&#8217;s Grid database, the Philippines has consistently ranked among the top five countries in Southeast Asia in terms of money laundering activity over the past five years. Data indicates a 45 per cent rise in incidents from 2022 to 2023. <\/p>\n\n\n\n<p>In January,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/president-marcos-wants-philippines-off-fatf-grey-list-by-october\" rel=\"noreferrer noopener\">president&nbsp;Marcos Jr set a target<\/a>&nbsp;for the country\u2019s removal from the FATF Grey List by October. He ordered the<strong>&nbsp;Anti-Money Laundering Council (AMLC)&nbsp;<\/strong>to intensify efforts.<\/p>\n\n\n\n<p>The Philippines has been on the list since June 2021. The FATF previously said the Philippines needs to demonstrate effective supervision of anti-AML and combating CFT controls in sectors vulnerable to financial crimes, including casinos, legal, accounting and real estate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>However, it predicts the Philippines will exit the FATF grey list soon.<\/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":"Moody's Analytics forecasts the Philippines' imminent exit from the FATF Grey List, despite a significant rise in money laundering incidents, particularly within the gaming industry. President Marcos Jr. has mandated intensified AML\/CFT efforts by the Anti-Money Laundering Council to achieve this by October, addressing FATF's concerns regarding supervision in vulnerable sectors like casinos.","focusai_entities":"Moody\u2019s Analytics, Financial Action Task Force, FATF, Choon Hong Chua, Business World, Moody\u2019s Grid, Marcos Jr, Anti-Money Laundering Council, AMLC","focusai_location":"Philippines, Southeast Asia","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.95), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"AML Enforcement Impact?","query":"What specific enhancements to AML\/CFT enforcement measures are being implemented by the AMLC to address the 45% rise in money laundering incidents noted by Moody's Grid?"},{"label":"Post-Exit Governance?","query":"Beyond exiting the FATF Grey List, what long-term governance frameworks and supervisory mechanisms will be established to ensure sustained AML\/CFT compliance, particularly within the gaming vertical?"}],"footnotes":""},"categories":[156,16333],"tags":[24038],"class_list":["post-777015876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-news","category-south-east-asia-news","tag-fatf"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015876","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=777015876"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015876\/revisions"}],"predecessor-version":[{"id":777015891,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015876\/revisions\/777015891"}],"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=777015876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}