The Financial Action Task Force (FATF) has removed the Philippines from its heightened surveillance following a successful on-site visit, according to an announcement made on Friday 21 February at its plenary meeting.
The Philippines could therefore be removed from the EU’s list of high-risk third country jurisdictions with strategic deficiencies in their anti-money laundering/combating terrorist financing (AML/TF) regime (see EUROPE B13373A16). However, the process of updating the...