Orders implementation of new strategy vs. terrorist financing, money-laundering

By Charles Dantes

PRESIDENT Ferdinand Marcos Jr. on Thursday tasked all government offices and departments to carry out a new strategy to contain money laundering, terrorism financing and proliferation financing as part of efforts to ensure that the country exits the Financial Action Task Force (FATF) grey list.

Mr. Marcos, through Executive Order No. 33, directed all government agencies and local government units to adopt the National Anti-Money Laundering, Counter-Terrorism Financing, and Counter Proliferation Financing

Strategy (NACS) 2023-2027.

“This is part of the government's efforts to move the Philippines out of the grey list of the FATF’s ‘Jurisdictions Under Increased Monitoring’ of countries that failed to show tangible and positive progress in addressing all key recommended actions in the Third Mutual Evaluation Report (MER),” the EO said.

The EO said the strategy will ensure that the country exits the FATF grey list.

Additionally, it will also allow the Philippines to address the International Cooperation Review Group.

"Given the expiration of the NACS