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Philippines exits FATF's gray list, lowering remittance fees and easing money transfer rules.
The Philippines has been removed from the FATF's gray list, resulting in lower remittance fees for overseas Filipino workers (OFWs) and fewer documentary requirements for money transfers.
This improvement, achieved under President Ferdinand R. Marcos Jr., includes a comprehensive anti-money laundering and counter-terrorism financing strategy.
The change is expected to attract more foreign investment and stabilize the banking system.
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Filipinas sale de la lista gris del GAFI, reduciendo las tarifas de remesas y flexibilizando las normas de transferencia de dinero.