{"id":777023273,"date":"2025-02-24T09:52:12","date_gmt":"2025-02-24T12:52:12","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777023273"},"modified":"2026-04-22T01:30:33","modified_gmt":"2026-04-22T04:30:33","slug":"philippines-removed-from-fatf-grey-list","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippines-removed-from-fatf-grey-list","title":{"rendered":"Philippines removed from FATF grey list"},"content":{"rendered":"\n<p>The FATF said the Philippines made significant progress in improving its AML\/CFT regime.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.-<strong>\u00a0The Financial Action Task Force (FATF)<\/strong>\u00a0has announced that the Philippines has been <strong>removed from its grey list of countries<\/strong>. The Philippines had been on the list since June\u00a02021 and subject to closer monitoring as a result.<\/p>\n\n\n\n<p>In a statement on Friday (February 21), the FATF said: &#8220;The FATF Plenary congratulated the Philippines for the positive progress in addressing the strategic anti-money laundering and countering the financing of terrorism and proliferation financing (AML\/CFT\/CPF) deficiencies previously identified during their mutual evaluations. The Philippines has completed their Action Plan to resolve the identified strategic deficiencies within agreed timeframes and will no longer be subject to the FATF\u2019s increased monitoring process.<\/p>\n\n\n\n<p>&#8220;The Philippines should continue to work with the Asia\/Pacific Group on Money Laundering of which it is a member to sustain its improvements in its AML\/CFT system. The FATF encourages the Philippines to continue its work in ensuring that its CFT measures are appropriately applied, particularly the identification and prosecution of TF cases, and are neither discouraging nor disrupting legitimate NPO activity.&#8221;<\/p>\n\n\n\n<p>In October, the FATF said that the country had\u00a0<strong>addressed all\u00a0<\/strong><a href=\"https:\/\/focusgn.com\/asia-pacific\/the-philippines-remains-on-fatf-grey-list-4\" target=\"_blank\" rel=\"noreferrer noopener\">18 deficiencies<\/a>\u00a0identified in its AML\/CFT controls.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Philippines&#039; exit from FATF grey list a reversal of POGO&#039;s &#039;reputational damage&#039;--Gatchalian\" width=\"625\" height=\"352\" src=\"https:\/\/www.youtube.com\/embed\/dve8ZIoGEzw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><figcaption class=\"wp-element-caption\">Source: Manila Bulletin.<\/figcaption><\/figure>\n\n\n\n<p>In a statement, <strong>Alejandro Tengco<\/strong>, chairman and CEO of<strong> the Philippine Amusement and Gaming Corp. (PAGCOR)<\/strong>, said: &#8220;We are honoured to have played a crucial part in this development, and the public can rest assured that PAGCOR will continue to ensure that all our licensees are compliant with all anti-money laundering rules and regulations.<\/p>\n\n\n\n<p>\u201cWe also commit to sustaining the fight against money laundering and terrorist financing in the entire Philippine gaming industry, including our online gaming operators, land-based casinos and junket operators.&#8221;<\/p>\n\n\n\n<p>Tengco said much of the state gaming firm\u2019s AML efforts are handled by two key units: The PAGCOR Anti-Money Laundering Supervision and Enforcement Department (PASED) and the Anti-Money Laundering Compliance Department or ACD.<\/p>\n\n\n\n<p>He noted: \u201cRest assured that your PASED and ACD teams will work even harder, together with other departments and our licensees, to ensure that we never go back to the grey list.&#8221;<\/p>\n\n\n<div id=\"see-also-container\">\n<div class=\"related-article\"><img decoding=\"async\" class=\"related-article__thumbnail\" src=\"https:\/\/focusgn.com\/asia-pacific\/wp-content\/uploads\/sites\/5\/2021\/04\/The-Philippines-government-alerts-about-illegal-POGOs-300x200.jpg\" \/><\/p>\n<p class=\"related-article__text\"><span class=\"see-also-label-strong\">See also:<\/span> <a href=\"https:\/\/focusgn.com\/asia-pacific\/paocc-aims-to-eradicate-offshore-gaming-operators-by-year-end\">PAOCC aims to eradicate offshore gaming operators by year-end<\/a><\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The FATF said the Philippines made significant progress in improving its AML\/CFT regime.<\/p>\n","protected":false},"author":176,"featured_media":777033803,"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 removed the Philippines from its grey list, acknowledging significant progress in its Anti-Money Laundering and Countering the Financing of Terrorism (AML\/CFT) regime. The Philippine Amusement and Gaming Corp. (PAGCOR) played a crucial role, committing to sustained compliance efforts across its licensed gaming verticals, including online and land-based casinos.","focusai_entities":"FATF, Philippine Amusement and Gaming Corp., PAGCOR, Alejandro Tengco, Asia\/Pacific Group on Money Laundering, PAGCOR Anti-Money Laundering Supervision and Enforcement Department, PASED, Anti-Money Laundering Compliance Department, ACD","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.95), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), investor_analyst (0.95), payments_fraud_aml (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Future AML\/CFT Oversight","query":"What specific mechanisms will the Philippines and PAGCOR implement to ensure sustained AML\/CFT compliance and prevent re-listing, particularly concerning emerging threats in online gaming and junket operations?"},{"label":"Investment Impact","query":"How is the removal from the FATF grey list expected to influence foreign direct investment and capital market sentiment towards the Philippine gaming sector and broader economy?"}],"footnotes":""},"categories":[24628,156,158,16333],"tags":[24038],"class_list":["post-777023273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlight-of-the-week","category-regulation-news","category-slider-home","category-south-east-asia-news","tag-fatf"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023273","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=777023273"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023273\/revisions"}],"predecessor-version":[{"id":777023320,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023273\/revisions\/777023320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777033803"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777023273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777023273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777023273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}