Philippines on list of nations that must step up drive vs money laundering, terror financing
Malacañang on Oct 18 called for urgent implementation of a program to address deficiencies in these areas. The Philippines is still on the Financial Action Task Force's 'grey list' of nations that must step up their efforts against money laundering, terror financing. The country must still address eight plans for it to exit the FATF Grey List by January 2024. The PCO did not specify the plans must still be addressed. The FATF called for urgent implementation of a program called National Anti-Money Laundering, Counter-Terrorism Financing, and Counter Proliferation Financing Strategy. The Chief Executive told government offices to adhere to the program's objective by “addressing deficiencies on time.
Pubblicato : 2 anni fa di Jean Mangaluz in General
MANILA — The Philippines is still on the ‘grey list’ of the Financial Action Task Force (FATF), the Presidential Communications Office (PCO) said.
Being on its grey list means the country is working to improve measures against money laundering and terrorist financing.
“As of September 2023, out of 18 ICRG (International Country Risk Guide) Actions Plans, the Philippines must still address eight plans for it to exit the FATF Grey List by January 2024,” the PCO said on Wednesday.
It did not specify the plans must still be addressed.
“This statement identifies countries that are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing,” FATF had said.
It called for urgent implementation of a program called National Anti-Money Laundering, Counter-Terrorism Financing, and Counter Proliferation Financing Strategy (NACS).
The Chief Executive told government offices to adhere to the program’s objective by “addressing deficiencies on time.”
Temi: Crime, Philippines, Fraud, Money Laundering, Corruption, Tax Fraud, Organized Crime