Statement of Sen. Win Gatchalian on PH removal from FATF gray list
February 22, 2025
STATEMENT OF SEN. WIN GATCHALIAN ON PH REMOVAL FROM FATF GRAY LIST
The removal of the Philippines from the Financial Action Task Force gray list, less than two months after the ban on POGOs took effect, is yet another proof that the country is in a much better position economically without POGOs.
A reversal of the reputational damage brought to the country by POGOs, the FATF's action is a recognition of the country's efforts in combating financial crimes, including money laundering, organized crime, and terrorism. This reaffirms what we have long maintained.
I am confident that the country's removal from the FATF gray list will enhance the country's efforts to attract more foreign direct investments necessary to sustain economic growth and generate employment.
Still, the government should sustain efforts to address potential risks and to further strengthen regulations to deter illicit financial flows.
Distribution channels:
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release