{"id":8711,"date":"2025-02-24T07:58:39","date_gmt":"2025-02-24T07:58:39","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/02\/24\/pagcor-praises-key-role-in-philippines-exit-from-fatf-grey-list\/"},"modified":"2025-02-24T07:58:39","modified_gmt":"2025-02-24T07:58:39","slug":"pagcor-praises-key-role-in-philippines-exit-from-fatf-grey-list","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/02\/24\/pagcor-praises-key-role-in-philippines-exit-from-fatf-grey-list\/","title":{"rendered":"Pagcor Praises Key Role in Philippines\u2019 Exit from FATF Grey List"},"content":{"rendered":"
\n

The Philippines has taken a major step to improve its anti-money laundering procedures by being removed from the Financial Action Task Force\u2019s (FATF) gray list. Alejandro Tengco, chairman and CEO of Philippine Amusement and Gaming Corp (Pagcor), highlighted the regulator\u2019s contribution to this accomplishment and promised to keep working to stop similar mistakes in the future.<\/p>\n

On Friday, the Philippines was formally taken off the FATF\u2019s gray list after more than three years. This list contains countries that are being closely watched because of worries about money laundering. Following the nation\u2019s enhancements to its anti-money laundering and counter-terrorism financing (AML\/CTF) framework, the decision was made.<\/p>\n

FATF President Elisa de Anda Madrazo praised the country\u2019s progress. \u201cAmongst other efforts and results, the Philippines is now actively combating the risk of dirty money flowing through casinos in the country,\u201d<\/em> she said, as quoted by the Philippine News Agency. She also noted that the nation must sustain its AML\/CTF reforms.<\/p>\n

Pagcor, which regulates both land-based and online gaming operations, played a vital role in meeting FATF\u2019s compliance requirements. According to the watchdog, the Philippines has strengthened its AML\/CFT regime by addressing deficiencies identified in June 2021. Measures included enforcing stricter controls on casino junkets, a key risk area.<\/p>\n

Commitment to Continued Compliance<\/h2>\n

Following FATF\u2019s announcement, Pagcor reaffirmed its commitment to maintaining strict compliance. \u201cWe are honored to have played a crucial part in this development, and the public can rest assured that Pagcor will continue to ensure that all our licensees are compliant with all anti-money laundering rules and regulations,\u201d<\/em> Tengco said.<\/p>\n

\n
\n
\n
\n