AMLC: PHL moves closer to exiting FATF grey list

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The Philippines is a step closer to exiting the Financial Action Task Force (FATF) grey list, the global anti-money laundering watchdog, according to the Anti-Money Laundering Council (AMLC).

For example, the cyberscam syndicates operating in Laos and Cambodia, that have Filipino workers there, remain a tough nut to crack,” Opiniano told this newspaper.“Simple acts of buying or borrowing ATMs owned by Filipino workers is another, like in Taiwan or Hong Kong, or Filipino-foreigners getting involved in Ponzi schemes and targeting compatriots in the US,” he added.

As early as last year, President Ferdinand Marcos Jr.ordered agencies to have their own anti-money laundering strategies and reorganized the government’s interagency task force to include anti-terrorism finance in its agenda.“We must continue our efforts to ensure that our reforms are implemented and sustained.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: PhilippinesCambodiaHong KongLaosTaiwanUnited Kingdom

Topics: Philippines List Fatf Financing Grey Financial Laundering Country Anti-money

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-26 @ 06:19:26 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1053 words

Reading Time: 6 minutes read

Sentences: 34 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23248291

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