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Philippines’ efforts to exit FATF grey list: A significant milestone in financial security

Business Mirror LogoBusiness Mirror5d ago

Philippines’ efforts to exit FATF grey list: A significant milestone in financial security - Business Mirror

Quick Summary:

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:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-26 @ 02:33:28 (5 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: 23246808

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About Business Mirror

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 11 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 11 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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