No risk of Phl's return to dirty money list - AMLC

As corruption scandals involving infrastructure projects raise concerns about the country's compliance with global anti-money laundering standards, the AntiMoney Laundering Council (AMLC) said the Philippines is not at risk of being placed back on the gray list of Paris-based Financial Action Task Force (FATF).

- KEISHA TA-ASAN

AMLC Executive Director Matthew David said the agency is strengthening its ability to detect, investigate and prosecute money laundering cases, which are key benchmarks for the FATF'S 2027 mutual evaluation.

"We're doing our best for the Philippines not to enter the gray list anymore," David told reporters after a Senate hearing yesterday.

"We are preparing everything for the 2027 evaluation where the FATF, through the Asia-Pacific Group, will assess our compliance," he said.

David's assurance came amid testimony in Congress from former Department of Public Works and Highways (DPWH) officials, who revealed that contractors linked to the flood control program moved vast amounts of cash, raising fears of large-scale laundering of public funds.