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MANILA: The Philippines has yet to exit the so-called “gray list” of Paris-based watchdog Financial Action Task Force (FATF), which urged the country to “swiftly” tackle remaining deficiencies in its defenses against money laundering and terrorist financing.
This means the Philippines is still under “increased monitoring,” particularly its progress in resolving deficiencies within agreed time frames, FATF said in a statement on Friday (June 28).
