During the fifth state conference on the UN Convention Against Corruption implementation and review at Malacañang, UN Office on Drugs and Crime country manager Daniele Marchesi lauded the country's efforts on financial reforms.
"All 18 action items required by the Financial Action Task Force, FATF, to exit the gray list of jurisdictions under increased monitoring for the anti-money laundering and counter-financing of terrorism have been addressed," the UN official said.
"At its October 2024 plenary, the FATF recognized this progress and announced that an on-site assessment would be conducted to confirm the sustainability of these reforms," he added.
Marchesi said successfully exiting the gray list would enhance the Philippines' reputation in the international financial community and open doors for greater investment and economic opportunities.
The gray list contains jurisdictions that are actively working with the FATF to fix strategic deficiencies and to counter money laundering, terrorist financing and proliferation financing.
When a jurisdiction is under increased monitoring, it means the country has committed to swiftly address the identified strategic deficiencies within agreed timeframes.
Bu hikaye The Philippine Star dergisinin December 04, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Philippine Star dergisinin December 04, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
SOFRONIO VASQUEZ'S PASSION AND DETERMINATION LEAD TO HISTORIC 'THE VOICE USA' VICTORY
DREAMS DO COME TRUE. However, there's a caveat or condition for one to make it happen.
OPM icons take pride in Sofronio Vasquez's big win
Sofronio Vasquez became the first-ever Filipino and Asian to win the hit US talent search \"The Voice USA.\"
Ricky Lee: Direk Ishmael Bernal will be happy and amused with 'Isang Himala'
Essaying the role of Elsa, the barrio lass who witnessed the apparition of the Virgin Mary that changed her life in director Ishmael Bernal's \"Himala\" (1982), is a huge challenge for any actress who will portray it, especially since it was originated by Nora Aunor.
ATE VI AS A GATECRASHER AND HER DREAM GUEST LIST
After six decades (and counting) in the biz, Vilma Santos practices quality control in the movies she puts her full emotional investment into.
All the Light Rail we can see
The Light Rail Transit 1 (LRT-1) Cavite Extension Project will increase the total number of LRT-1 stations from 20 to 28, covering several major cities including Quezon City, Caloocan, Manila, Pasay, and Parañaque, all the way to Bacoor, Cavite.
RUPERT JACINTO'S 'FAAABULOUS XII' GALA NIGHT
Rupert Jacinto's \"Faaabulous XII,\" a photo exhibit, book launch and fabulousity gala night, was held recently at the Marriott Grand Ballroom.
Lunches with Cedie
It was November of 1986, and Mom and I had gotten home from an extended trip visiting relatives in the States.
NGCP's P2.6-B Capas project gets ERC nod
The Energy Regulatory Commission (ERC) has given the National Grid Corp. of the Philippines (NGCP) the green light to develop a P2.59-billion transmission project in Capas, Tarlac.
Easing inflation, policy rates to support residential market
Softer inflation and lower policy rates would be favorable for the residential market, according to a professional services and investment management company.
Visa simplifies money transfers for OFWs, SMEs
Global payments platform Visa is strengthening its commitment to simplifying and securing digital money transfers for overseas Filipino workers (OFWs), digital workers, and small and medium enterprises (SME) owners especially this holiday season when remittances peak.
