DFA hails Phl exit from FATF gray list

The Department of Foreign Affairs yesterday hailed the removal of the Philippines from the gray list of the Financial Action Task Force (FATF), a top international money laundering and terrorism-financing watchdog.

- MICHAEL PUNONGBAYAN

In a statement, the DFA welcomed the announcement of the country's exit from the group's list of jurisdictions under increased monitoring last month.

"The whole-of-nation effort, backed by high-level political commitment and solid institutional reforms, saw the strengthening of the country's AML/CFT (anti-money laundering and combating the financing of terrorism) posture, fulfilling its FATF Action Plan commitments to address strategic deficiencies," the DFA said.