Philippines remains on FATF gray list, junkets a continued concern

The Philippines remains on the Financial Action Task Force’s (FATF) gray list after its latest review, with the anti-money laundering body continuing to express concern over the monitoring of casinos and junkets.
The latest FATF plenary was held under the German Presidency of Dr. Marcus Pleyer from June 14th – 17th.

The FATF put the Philippines back on its list of jurisdictions that are subject to increased monitoring in June last year.

The Paris-based organization said that since then the Philippines has taken steps to improve its AML and CFT regimes, but it reiterated that it needs to continue to work to implement its action plan.

Source: https://agbrief.com/news/philippines/20/06/2022/philippines-remains-on-fatf-gray-list-junkets-a-continued-concern/