Philippines exits dirty money review: global watchdog

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The Asia-Pacific Group on Money-Laundering, a global watchdog, said the Philippines and 6 other jurisdictions “exited” its review following “significant compliance” in tightening their regulations.

The Philippines’ Anti-Money Laundering Council said it reported to the APG during its annual meeting in Sri Lanka last month that President Rodrigo Duterte had signed a law to place casinos under dirty money scrutiny.

The larger Financial Action Task Force removed the Philippines from its list of jurisdictions that are “vulnerable” to money laundering and asked Manila to work with the APG on strengthening its regulations.

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