BusinessWorld June 28, 2021 | 12:32 am Reporter THE PHILIPPINES is hoping it will be able to convince the Financial Action Task Force (FATF) that it is effectively implementing laws against money laundering and counter-terrorism financing in order to avoid possible countermeasures as a result of its inclusion in the latter’s “gray list.” Anti-Money Laundering Council (AMLC) Executive Director Mel Georgie B. Racela said the Philippines will be submitting its first progress report to the FATF in September. The Philippines is being required to submit progress reports thrice a year. “The reports will contain the Philippines’ progress in implementing the International Co-operation Review Group (ICRG) action plans, which are to be addressed within the timelines given. These progress reports will be submitted every January, May, and September,” he said in a Viber message on Saturday.