MANILA - The Bangko Sentral ng Pilipinas on Monday said the Philippines' laws and regulations are not enough, as the country finds itself again in the "gray list" of a global dirty money watchdog.
The Financial Action Task Force, a global inter-governmental body that aims to prevent money laundering and terrorist financing, again placed the Philippines last week on its "gray list" or jurisdictions under increased monitoring."But it is not sufficient," Diokno said. "That said, the Philippines has been working relentlessly to address the deficiencies identified in the 2018 Mutual Evaluation even amidst the COVID-19 pandemic," Diokno added.
The Philippines however remains strongly committed to swiftly resolve the remaining strategic deficiencies, which have been redced to 18 from the original 70, within agreed timeframes, the BSP chief said. Diokno said the Philippines will report its progress to the FATF thrice a year — January, May and September; with the first report due this September.
"The Philippines will be delisted from ‘gray list’ upon successful completion of all action plans — hopefully on or before January 2023," Diokno said.
Eh ano pa nga ba..
E palpak nga ang covid response ni Duterte!
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