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PSBank and Metropolitan Bank in Tacloban have been ordered to freeze the accounts of Leyte Center for Development Inc., which has done disaster response work with the government and international partners
The Philippines has remained on the grey list of the Paris-based Financial Action Task Force’s (FATF), according to the Anti-Money Laundering Council (AMLC). This means the country is still part of the list of 21 countries who are under increased monitoring of the FATF. These countries include Asian countries like…
The Financial Action Task Force (FATF) is an intergovernmental organization that sets international standards and promotes measures to combat money laundering and terrorist financing. It plays a crucial role in the global financial system by conducting mutual evaluations of its member countries to assess their compliance with the FATF recommendations.…
THE Bangko Sentral ng Pilipinas (BSP) is keen on creating a foreign exchange intervention framework within the year to better manage the central bank’s efforts to “contain stress” when it comes to Philippine peso. On Thursday, BSP Governor Eli M. Remolona Jr. told Rotarians that the central bank must only…
THE country’s “grey” listing from the Financial Action Task Force (FATF) is expected to continue to cast a shadow in its investment prospects this year due to the existing gaps in the government’s money laundering and terrorist financing policies. During a press briefing in Malacañang on Tuesday, AMLC Executive Director Matthew M. David disclosed…