00:00PTV's Noel Talacay will have a good effect in the Philippines in leaving the list of Anti-Money Laundering and Terrorism in the news for the country.
00:12The Department of Finance or DUF announced that the country has left the gray list or list of Anti-Money Laundering and Counter-Terrorism Financing of the Financial Action Task Force or FADF.
00:27Based on the statement of the government, on February 21 this year, the announcement of the Global Anti-Money Laundering Watchdog was released, where since 2021, the country has been on the gray list.
00:41According to Finance Secretary Ralph Recto, this is one of the successes of the Marcos Jr. Administration.
00:47That's why he thanks the government for its efforts to achieve this.
00:53It will also strengthen the trust of the system of the country's neighborhood.
00:59It also has a good impact on the remittances of overseas Filipino workers to businesses and Filipinos.
01:06Recto also added that it will also encourage foreign investment and expand the country's trade partnership with other countries that can help the country's economy grow.
01:19Because of this, Recto said, the next target of the government is to upgrade the country's credit rating.
01:26Executive Secretary Lucas Bersamin also said that the fight against money laundering is one of the hardest battles won by the Marcos Administration by adhering to the system of global standards in combating money laundering.
01:43The countries on the gray list of the Financial Action Task Force are not following the recommendations of the FATF.
01:53This means that the system is weak and ineffective in enforcing the law in issuing illegal money or funds for terrorism.
