THE Department of Justice (DOJ) on Friday, June 13, 2025, welcomed the decision of the European Commission (EC) to remove the Philippines from its list of “high-risk jurisdictions” in terms of financial crimes.
The EC, the politically independent executive arm of the European Union (EU), said the Philippines is among the countries that have effectively addressed technical deficiencies in anti-money laundering and counterterrorism financing (AML/CFT) measures.
In a statement, Justice Secretary Jesus Crispin Remulla welcomed the milestone in the country’s fight against financial crimes and vowed that the DOJ would continue to implement policies and measures that promote economic integrity.
The removal of the Philippines from the “dirty money list” leaves Laos, Myanmar and Vietnam as the only Southeast Asian countries under close monitoring by the EC.
On Feb. 21, the Financial Action Task Force (FATF) released an updated list of high-risk and other monitored jurisdictions and announced the Philippines’ removal because of “significant progress in improving its AML/CFT regime.”
The FATF said the Philippines had shown effective risk-based supervision of designated non-financial businesses and professions; demonstrated that supervisors were using AML/CFT controls to address risks with casino junkets; implemented new registration requirements for money or value transfer services; and applied sanctions to unregistered and illegal remittance operations, among other improvements. / PNA