The Financial Action Task Force (FATF), a global anti-money laundering watchdog, said on Friday it had removed the Philippines from its 'grey' list of countries under increased scrutiny, while it added Laos and Nepal to that list.

The Philippines is no longer on the list of countries under heavy scrutiny by the top global money laundering and terrorism financing watchdog. The Financial Action Task Force (FATF) has removed the Philippines from its gray list after an on-site visit in January confirmed the country’s significant progress in strengthening measures on anti-money laundering and combatting the financing of terrorism (AML/CFT).

The National Union of Peoples’ Lawyers has expressed concerns over the Philippines’ removal from the Financial Action Task Force’s grey list, calling it a “pyrrhic victory” linked to political repression.

THE Philippines has been removed from the "grey list" of countries under increased monitoring for money laundering and countering the financing of terrorism. Th

The National Treasury has expressed satisfaction with the progress being made to remove South Africa from the Financial Action Task Force (FATF) grey list.

The Philippines is set to enjoy lower foreign remittance costs for its millions of workers overseas and better investor perception following its removal from the global dirty

The Philippine government welcomed the country’s removal from a global watchdog’s dirty-money list, which could spur remittances and foreign investments in one of Asia’s fastest-growing economies. The Financial Action Task Force’s (FATF) decision to take Manila off the list is expected to “facilitate faster and lower-cost cross-border transactions,