‘Grey list exit hinges on banks, F.I. reforms’

Quick Summary:

DESPITE substantial completion of its anti-money laundering/countering the financing of terrorism (AML/CFT) action plan, the Bangko Sentral ng Pilipinas (BSP) believes the work continues for the whole financial system.

AMLC saif FATF member countries can impose restrictions and additional checks, and possibly refusal of financial transactions with countries in the blacklist.

Earlier, Jonathan Ravelas, senior adviser at professional services firm Reyes Tacandong & Co.told the BusinessMirror that a favorable assessment from FATF would improve the country’s economic and investment prospects.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: PhilippinesUnited Kingdom

Topics: Philippines List Grey Transactions Country Financial Banks Action Countries Country’s Fatf

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 16:08:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 700 words

Reading Time: 4 minutes read

Sentences: 32 lines

Sentence Length: 22 words per sentence (average)

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

Copyright Owner: © Business Mirror

News ID: 23329186

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 34 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 8 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #37

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