Tag: FATF
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Philippines Exits FATF Grey List; Marcos Praised for Pivotal Role
On Saturday, Malacañang lauded President Ferdinand Marcos Jr. for his decisive leadership that paved the way for the Philippines’ removal from the Financial Action Task Force (FATF) grey list. Claire Castro, Palace press officer and Presidential Communications Office Undersecretary, emphasized that President Marcos spearheaded essential policy reforms that significantly boosted the country’s defense against money…
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Philippines Triumphs Over ‘Dirty Money’ Label: A New Era of Global Trade and Investment
In a significant victory for the Marcos administration, the Philippines has been removed from the Financial Action Task Force’s (FATF) grey list, a move that promises to accelerate and reduce the cost of international transactions. This achievement, celebrated by Malacañang, is seen as a major step forward in attracting foreign direct investments that foster job…
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Philippines Successfully Exits FATF Grey List After Demonstrating Robust Reforms
In a significant development for the country’s financial integrity, the Philippines has been officially removed from the Financial Action Task Force’s (FATF) grey list, a roster of jurisdictions under heightened scrutiny for money laundering and terrorism financing risks. This milestone was announced late Friday, marking the end of a three-year journey to enhance the nation’s…
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Philippine Government’s Intensified Anti-Drug Campaign Seizes PHP21.43 Billion in Narcotics in 2024
In 2024, the Philippine government’s escalated efforts against narcotics resulted in the seizure of PHP21.43 billion worth of illegal drugs, marking a significant increase from the previous year. The Philippine Drug Enforcement Agency (PDEA) reported a 32% rise in the total value of confiscated drugs and controlled substances compared to PHP16.24 billion in 2023. The…
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