The Philippines was removed from the Financial Action Task Force’s (FATF) grey list after four years.
The Philippines.- Claire Castro, undersecretary of the presidential communications office, has said that President Ferdinand R. Marcos Jr.’s decision to ban offshore gaming operators has played a role in the Philippines‘ removal from the Financial Action Task Force (FATF) grey list in February.
In a radio interview, Castro said: “This is a huge factor for FATF to see the improvement and President Marcos really wants everything to be fixed, through Executive Order 33, to follow the recommendation, and do everything that needs to be done for us to be removed from the grey list.”
Executive Order 33 lays out the Philippines’ anti-money laundering, counter-terrorism financing, and counter-proliferation financing strategy for the period of 2023-2027. The Philippines had been on the grey list since June 2021. In October, the FATF said the country had addressed all 18 deficiencies it had identified in anti-money laundering controls.
20 foreign nationals arrested for alleged links to offshore gaming
The National Bureau of Investigation (NBI) has arrested 20 foreign nationals allegedly linked to offshore gaming activities in Parañaque City. Authorities received information from the wife of a Chinese national, who reported illegal activities at Aseana 3, West Tower, 8912 Avenue. She alleged that her husband, who worked as a customer service representative, was being held against his will by his employer, an offshore gaming company operating under the trade name LWE.
Those arrested were charged by the city prosecutor’s office for violating Section 4(b)(1) (Social Engineering Schemes) of Republic Act (RA) 12010 and the Cybercrime Prevention Act of 2012.
The Philippines was removed from the Financial Action Task Force’s (FATF) grey list after four years. The Philippines.- Claire Castro, undersecretary of the presidential communications office, has said that President…
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