https://igamingbusiness.com/casino/philippines-stronger-anti-money-laundering-policy-casinos/

The Philippines’ top law enforcement officer has pledged his support for a nationwide policy to fight money laundering and terrorism financing. On 12 February, President Ferdinand Marcos Jr directed “concerned government agencies and instrumentalities” to collaborate with the Anti-Money Laundering Council (AMLC) on an updated strategy.

“The Philippine National Police is fully committed to President Marcos’ directive,” said General Jose Melencio Nartatez. “We are ready to integrate our investigative powers with AMLC in running after organized crime groups and syndicates, especially those involved in illegal drugs, smuggling and cybercrimes.

“High-risk sectors such as real estate, casinos and import-export businesses will be closely monitored,” Nartatez noted. “International cooperation with foreign law enforcement agencies will be strengthened to track illicit funds entering or leaving the Philippines.”

In addition, the Anti-Cybercrime Group and Criminal Investigation and Detection Group are now being trained in financial forensics and criminal trends.

Philippines fears return to FATF ‘grey list’

The Philippine Inquirer reported that officials fear the country may end up back on the Financial Action Task Force “grey list” of countries at higher risk for financial crimes.

The Philippines joined the dirty-money roster in mid-2021, in part due to money laundering through casino junkets. (Notably, the Philippines Anti-Money Laundering Act did not even apply to casinos until July 2017.) From 2021 into 2025, the country laboured to complete an 18-point action plan devised by FATF to restore its financial integrity. Finally, last February, it was removed from the ignominious lineup, which is seen as a red flag for investors.

But a government corruption scandal has brought the Philippines under renewed scrutiny. The Philippines Center for Investigative Journalism reports that 420 government-led flood control measures were actually “ghost projects — non-existent or poorly executed infrastructure initiatives”. The consequences became apparent after typhoon-related flooding killed hundreds of Filipinos last year. Per World Bank estimates, the Philippines loses 1.2% of its gross domestic product each year from the impact of typhoons. That would amount to US$5.64 billion in 2024 alone.

“The Philippines has already been removed from the FATF grey list,” said Claire Castro, Malacañang press officer. “If there is legislation that may be needed, that is already the job of our lawmakers. If they see any gaps, they can draft and pass any new laws related to this matter.”