‘Philippines at risk of returning to dirty money list’DUMAGUETE CITY, Philippines — The Philippines faces a real risk of being placed back on the Financial Action Task Force (FATF) gray list, although authorities are taking steps to prevent a reversal of the country’s recent gains in anti-money laundering and counter-terrorism financing (AML/CTF) reforms. During a media information session held here, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. acknowledged that vulnerabilities remain, particularly given the country’s historical exposure to money laundering risks, even after its removal from the FATF gray list in 2025. He was also asked whether the ongoing probe into the flood control corruption scandal could affect the country’s risk profile. These are the areas that the FATF continues to monitor closely even after a country exits the gray list. Avoiding a return to the gray list, Rivera said, would require stronger prosecution of major money laundering and corruption-linked cases, tighter monitoring of politically exposed persons and better coordination among government agencies.

Source: Philippine Star February 04, 2026 04:01 UTC