Finance Secretary Ralph G. Recto has lauded the Philippines’ successful exit from the Financial Action Task Force’s (FATF) grey list, which is a significant step for the country to secure a credit rating upgrade under the Marcos, Jr. administration.
On February 21, 2025, the global anti-money laundering watchdog announced that the country is no longer part of its list of jurisdictions under increased monitoring, marking the end of its grey list status since June 2021.
The Philippines has also been cited as a model and regional leader in addressing financial integrity issues in the international financial system.
President Ferdinand R. Marcos, Jr. made the country’s FATF exit a top priority, issuing Executive Order No. 33 in 2023 to fast-track compliance with global financial standards.
The Department of Finance (DOF) played a key role in this achievement as a member of the National Anti-Money Laundering/Counter-Terrorism Financing/Counter-Proliferation Financing Coordinating Committee (NACC), the inter-agency body responsible for overseeing the National AML/CTF/CPF Strategy (NACS) and guiding its implementation across relevant agencies.
