THE Philippines has been removed from the "grey list" of countries under increased monitoring for money laundering and countering the financing of terrorism. Th

The Philippines has been taken off a global watchdog’s dirty-money list, a move that could spur remittances and foreign investments in one of Asia’s fastest-growing economies.

The Philippine government welcomed the country’s removal from a global watchdog’s dirty-money list, which could spur remittances and foreign investments in one of Asia’s fastest-growing economies. The Financial Action Task Force’s (FATF) decision to take Manila off the list is expected to “facilitate faster and lower-cost cross-border transactions,

After more than three years, the Philippines is finally out of the Financial Action Task Force’s (FATF) grey list or list of jurisdictions under increased monitoring. In a statement late Friday, the FATF said the Philippines made significant progress improving its anti-money laundering and counter-terrorism financing (AML/CTF) regime.