The country was excluded in early 2025.
During the Palace Press Briefing this week, Palace Press Officer Usec. Claire Castro said that the government is working to strengthen its investigations and anti–money laundering enforcement.
That, she said, is in line with the administration’s commitment to upholding financial integrity and sustain the positive exclusion of the Philippines’ exclusion from the Financial Action Task Force’s (FATF) “grey list.”
This is a list of countries that are placed under increased monitoring for weaknesses in their anti–money laundering and counter-terrorism financing systems, with the Philippines having been removed in February 2025.
“Natanggal na tayo sa grey list ng FATF. At kaya nagpa-imbestiga ang Pangulo at tuloy-tuloy pa rin ang pagpapanagot sa mga sangkot upang maging malinis ang ating bansa sa isyu ng korapsyon,” she said.
Castro also noted that if there is a need for further legislation, the task falls on legislators in Congress. “Kung mayroon pa silang nakikitang mga kakulangan, sila na ang maaaring bumalangkas ng anumang bagong batas patungkol dito.”
The official also emphasized that asset freezing is a key tool in addressing corruption cases, stressing that authorities will not hesitate to act against anyone found to be involved, may it be in the private or public sector.
“Ang pag-freeze ng assets ay importante iyan. At kung mayroon man, sinumang may kinalaman sa mga korapsyon, ay dapat lamang na ma-freeze ang assets.”
The Anti-Money Laundering Council (AMLC), she said, also plays a crucial role in the process. This, as the body initiates investigations on its own and immediately seek court approval to freeze assets when warranted.
In previous months, some of the major asset freezes issued by the government were for officials and contractors implicated in the flood control corruption scandal, with some assets, including cars and money, having been seized or surrendered in light of the probe.