Philippines stays on FATF blacklist despite progress<\/p>\n
Despite progress in legislation, the Philippines has remained on
\nan international blacklist of countries and territories seen as
\nconducive to money-laundering, the central bank said in Manila on
\nMonday.<\/p>\n
It said the Philippines remained on the Financial Action Task
\nForce (FATF) list of Non-Cooperative Countries and Territories
\n(NCCTs) in the latest FATF advisory for June.<\/p>\n
The advisory delisted Saint Vincent and the Grenadines from
\nthe NCCT group, leaving behind the Cook Islands, Egypt,
\nGuatemala, Indonesia, Myanmar, Nauru, Nigeria, the Philippines
\nand Ukraine.<\/p>\n
The central bank released a text of the FATF report that cited
\nprogress made by the Cook Islands, Egypt, Guatemala, Nigeria, the
\nPhilippines, Ukraine and Nauru in addressing deficiencies and
\nwhich called on them to continue this work.<\/p>\n
\"The FATF notes with particular satisfaction that Egypt,
\nGuatemala, and the Philippines have enacted most, if not all
\nlegislation needed to remedy the deficiencies previously
\nidentified,\" it said.<\/p>\n
\"On the basis of this progress, the FATF will invite those
\ncountries to submit implementation plans to enable the FATF to
\nevaluate actual implementation of the legislative changes in each
\njurisdiction,\" it said.<\/p>\n
\"Until the deficiencies have been fully addressed and the
\nnecessary reforms have been sufficiently implemented, it believes
\nthat scrutiny of transactions with these jurisdictions, as well
\nas those with Indonesia and Myanmar, continues to be necessary,\"
\nit said. -- AFP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/philippines-stays-on-fatf-blacklist-despite-progress-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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