00:00Philippine authorities are intensifying efforts to prevent the country from being placed back on the Financial Action Task Forces or FATF's gray list,
00:09a risk brought by the ongoing flood control corruption controversy in the country.
00:13This according to Banco Central ng Pilipinas or BSP Governor Eli Rimulona Jr.
00:19Rimulona noted that avoiding re-inclusion in the gray list is going to be a long process.
00:24He also stressed the need to demonstrate to the FATF that the country is taking comprehensive action ahead of the next evaluation process, scheduled around 2027.
00:35Inclusion on the FATF gray list signifies that a country has weak measures against money laundering and terrorist financing.
00:43The Philippines was last removed from the list in May 2025 after being placed back on it in July 2021
00:50due to issues like money laundering through casino junkets and insufficient prosecution of terror financing suspects.
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