PALACE WELCOMES PH’ REMOVAL FROM EU’S  MONEY LAUNDERING ‘HIGH-RISK’ LIST

MALACAÑANG on Wednesday welcomed the European Union’s (EU) decision to remove the Philippines from its list of high-risk third world countries for money laundering and terrorism financing, describing it as a testament to the Marcos administration’s reform agenda.

In a press briefing, Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro said the EU’s move is a strong affirmation of the country’s strengthened safeguards against financial crimes.

“Ibig sabihin lang nito ay patuloy ang paglakas ng anti-money laundering at anti- terrorism financing measures ng bansa,” Castro said.

Upon President Ferdinand R. Marcos Jr.’s directive, the Bangko Sentral ng Pilipinas (BSP) has stepped up reforms to protect the integrity of the financial system — measures that are expected to spur economic growth and reinforce global confidence in the Philippines.

Castro also said that according to the BSP, the EU’s decision is proof that the Marcos administration’s efforts are producing results, with international investors showing renewed trust in the country’s financial institutions.

The Palace noted that the delisting is also expected to attract more investments, lower remittance costs for overseas Filipino workers, and strengthen partnerships between local banks and foreign counterparts.

“Ipagpapatuloy nito ang pagpapatibay sa ating anti-money laundering reforms para sa long-term progress ng bansa,” Castro said.

The EU officially delisted the Philippines on June 10, 2025, after recognizing improvements in the country’s anti-money laundering and counter-terrorism financing framework, and the resolution of technical gaps earlier flagged by the
Financial Action Task Force (FATF).

The Philippines had been on the EU’s high-risk list since March 13, 2022.