Phl to complete nat'l risk assessment this year - AMLC

The Philippines is set to complete its latest National Risk Assessment (NRA) this year, a crucial measure in ensuring the country remains off the Financial Action Task Force (FATF) gray list following its exit in February.

- By KEISHA TA-ASAN

In a document posted on its website, the Anti-Money Laundering Council (AMLC) said the Philippines is in the process of finalizing its NRA, which will assess emerging risks and strengthen measures to combat money laundering, terrorism financing and the proliferation of weapons of mass destruction.

"The NRA is expected to be completed this year, and it will be key for the next round of evaluation in 2027," the AMLC said.

The Bangko Sentral ng Pilipinas (BSP) earlier said the NRA is an integral component to develop risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) measures.

"In line with this, the NRA is critical in maintaining an updated understanding of the ML/TF environment and risk posture of the country," the BSP said.