Philippine President Ferdinand Marcos recently directed all government departments to collaborate with the Anti-Money Laundering Council (AMLC) to update the national anti-money laundering and counter-terrorism financing strategy. The Chief of the Philippine National Police, Jose Merenciano Nartatez, stated that the police are ready to integrate their investigative forces with the AMLC, focusing on combating organized crime groups, especially those involved in illegal drugs, smuggling, and cybercrime. In plain terms, it means putting a tight leash on industries like casinos and real estate that are prone to "money laundering". Nartatez specifically mentioned that casinos, real estate, and import-export businesses and other high-risk industries will be closely monitored, and international cooperation will also be strengthened to track cross-border illegal funds. Want to know the latest trends in anti-money laundering regulation in Southeast Asia? Follow the PASA official website for continuous updates on policies.
Policy Upgrade: Multi-department Coordination, Focusing on High-Risk Industries
On February 12, President Marcos ordered relevant government agencies to collaborate with the AMLC to formulate an updated strategy. The Philippine police will focus on:
Integrating investigative forces: The cybercrime response team and the criminal investigation and detection group are undergoing training in financial forensics and crime trends
Focusing on key industries: Casinos, real estate, import-export businesses
Strengthening international cooperation: Working with foreign law enforcement agencies to track illegal funds entering and leaving the Philippines
Background Pressure: Just off the "grey list", yet caught in corruption cases
The background of this policy upgrade is the risk of the Philippines being re-listed on the Financial Action Task Force (FATF) "grey list". The Philippines was previously placed on the grey list in mid-2021 due to reasons including money laundering in casino VIP rooms, and after more than three years of efforts completing 18 rectifications, it was removed in February 2025.
However, recent government corruption scandals have sparked new scrutiny. According to the Philippine Investigative Journalism Center, 420 government-led flood prevention projects are actually "ghost projects" — either non-existent or of extremely poor execution quality. Last year's typhoon-induced floods caused hundreds of deaths, and the World Bank estimates that typhoons cost the Philippines 1.2% of its GDP annually (just in 2024, it reached $5.64 billion).
Official Statement: Already off the grey list, legislation to patch loopholes
The presidential spokesperson, Claire Castro, stated: "The Philippines has been removed from the FATF grey list. If new legislation is needed, that is the job of the legislators. If they find any loopholes, they can draft and pass relevant laws."
This means that although the administrative level of anti-money laundering actions has been upgraded, further legal amendments still require the cooperation of the legislative body.
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This article is from "PASA-Global iGaming Leaders", a gambling industry news channel: https://t.me/pasa_news
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