'Phl at risk of returning to dirty money list'

The Philippines faces a real risk of being placed back on the Financial Action Task Force (FATF) gray list, although authorities are taking steps to prevent a reversal of the country's recent gains in anti-money laundering and counter-terrorism financing (AML/CTF) reforms.

- Keisha Ta-asan

During a media information session held here, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. acknowledged that vulnerabilities remain, particularly given the country's historical exposure to money laundering risks, even after its removal from the FATF gray list in 2025.

"To be honest, we have a risk. We have a risk that we will return to the gray list, although we are doing what we can to prevent that," Remolona said in response to questions on whether recent governance issues could raise red flags for global watchdogs.

The BSP chief stressed that safeguarding the country's standing with the FATF would require sustained effort over several years, not just short-term fixes.

"Preventing re-inclusion is going to be a long process," he said, noting that the next formal round of FATF evaluation for the Philippines is expected around 2027.