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Comment: Philippines FATF 'gray listing' shows need to demonstrate AML laws are being implemented

By Ben Lucas ( July 1, 2021, 04:37 GMT | Comment) -- Four years after the Philippines left the Financial Action Task Force’s “gray list” in 2017, the country this week finds itself back on the list of jurisdictions under increased monitoring by the world’s anti-money laundering standards-setter. While the Philippines updated several areas of its anti-money laundering framework over the last year, the decision to return the country to the gray list shows its crucial for countries to demonstrate that new and long-standing laws are being implemented.On Friday last week, the Philippines was added to the “gray list” — a colloquial term to describe the list of jurisdictions under increased monitoring by the Financial Action Task Force, or FATF....

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