DFA Statement on the Philippines’ Exit from the FATF Grey List

MANILA 06 March 2025 — The Department of Foreign Affairs welcomes the announcement by the Financial Action Task Force (FATF) of the Philippines’ exit from the FATF Jurisdictions Under Increased Monitoring, or Grey List, on 21 February 2025. The whole-of-nation effort, backed by high level political commitment and solid institutional reforms, saw the strengthening of the country’s AML/CFT posture, fulfilling its FATF Action Plan commitments to address strategic deficiencies. This milestone achievement signals a safer and more steady investment climate, as instituted measures result in enhanced confidence in transacting with Philippine institutions, lower interest rates, and reduced possibility of de-risking. The positive impact also extends to the whole Filipino diaspora, which includes OFWs and Filipino permanent and temporary migrants, as it opens up greater opportunities for the inflow of remittances and investments of our countrymen to the Philippines, increasing the participation of our Filipino communities around the world in nation-building, including supporting the Philippine economy's important role in the successful reintegration of our nationals. END