(UPDATE) PRESIDENT Ferdinand Marcos Jr. has approved the implementation of a new strategy to counter money laundering, terrorism financing, and proliferation financing in the country. The President signed on Tuesday Executive Order (EO) 33, directing all government offices and departments to adopt the National Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing Strategy (NACS) 2023-2027. It also authorized the National Anti-Money Laundering and Countering the Financing Strategy Coordinating Committee (NACC) to reorganize its subcommittees. The Terrorism Financing and Proliferation Subcommittee will be reorganized into two subcommittees — the Terrorism Financing Subcommittee and the Proliferation Financing Subcommittee. The NACC shall be chaired by the executive secretary, while the governor of the Bangko Sentral ng Pilipinas, the concurrent chairman of the Anti-Money Laundering Council, will serve as vice chairman.
