{"id":8265,"date":"2021-10-26T00:00:00","date_gmt":"2021-10-26T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/philippines-still-on-grey-list\/"},"modified":"2021-10-26T00:00:00","modified_gmt":"2021-10-26T00:00:00","slug":"philippines-still-on-grey-list","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/philippines-still-on-grey-list\/","title":{"rendered":"Philippines still on grey list"},"content":{"rendered":"<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">The Financial Action Task Force (FATF) has kept the Philippines on its &ldquo;grey list&rdquo; of untrustworthy jurisdictions. The country needs to increase controls to mitigate the risks associated with junket operators.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Despite efforts to strengthen anti-money laundering and terrorist financing regulations, the Financial Action Task Force (FATF) has said The Philippines needs to introduce more controls against risks associated with junket operators. <\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">It will therefore maintain The Philippines on its grey list of untrustworthy jurisdictions, although it acknowledged that since June, the Philippines &ldquo;has taken steps to improve its AML\/CFT system&rdquo;. The FATF listed eight areas where more work is needed based on an action plan previously proposed by the Philippine authorities.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">The required changes include controls to mitigate the risks associated with casino intermediaries. <\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><a href=\"https:\/\/www.mundovideo.com.co\/asia\/philippine-now-has-two-gambling-watchdogs\" target=\"_blank\" rel=\"noopener\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"color:#0563c1\"><u><span style=\"font-family:&quot;Arial&quot;,sans-serif\">READ HERE: PHILIPPINE NOW HAS TWO GAMBLING WATCHDOGS<\/span><\/u><\/span><\/span><\/span><\/a><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">In February, President Rodrigo Duterte signed a law to strengthen anti-money laundering and terrorist financing regulations in order to comply with the recommendations of the FATF.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Countries on the greylist are required to submit progress reports to FATF three times a year. The Philippines was put on the grey list before, from 2000 until 2005.<\/span><\/span><\/span><\/p>\n<p>\n<span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"background-color:white\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\"><span style=\"color:black\">No Copyright infringement intended. Video\/Photo Unknown Direct for credits\/issue or text us +57 3606412 &#8230;&nbsp;<\/span><\/span><\/span><span style=\"background-color:white\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\"><span style=\"color:black\">| Respect to Photographers &amp; Influencers<\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The country needs to increase controls to mitigate the risks associated with junket operators.<\/p>\n","protected":false},"author":1,"featured_media":5607,"menu_order":363,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4162],"class_list":["post-8265","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-grey-list-asian-countries-gambling-grey-list-philippines","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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