Philippines

Asia
Philippines

October 11, 2023

The International Monetary Fund (IMF) stated that the Philippines government should adopt an enhanced AML compliance system to combat money laundering and remove it from the Financial Action Task Force’s (FATF) grey list.
The IMF’s end-of-mission

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FCPA Professor

FCPA Enforcement Actions Concerning Conduct In Other Southeast Asian Countries

By Mike Koehler

September 19, 2023

Previous posts here and here took a look at Foreign Corrupt Practices Act enforcement actions concerning conduct (in whole or in part) in Vietnam and Thailand.
This post takes a look at FCPA enforcement actions involving conduct (in whole or…

Shufti Pro Blog

Increasing Use of Cryptocurrency for Money Laundering Causes Concern in the Philippines

By Richard M.

August 29, 2023

The use of cryptocurrency in money laundering is raising alarm for the Philippine Central Cank. The bank anticipates using virtual assets and crypto transactions will increase money laundering and terrorist financing risks.
The Philippine Central Bank remains watchful against money

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Health Law Prof Blog

How to Strengthen the Role of Community Engagement on the Surge of Teenage Pregnancy in the Philippines

By Katharine Van Tassel

August 12, 2023

Al Francis Deniel Mantilla (Polytechnic University of the Philippines), Daphney Jay Aquino (Polytechnic University of the Philippines), Julia Louisse Castillo (Polytechnic University of the Philippines), Dominec France Magadan (Polytechnic University of the Philippines), How to Strengthen the Role of Community…

Shufti Pro Blog

The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies

By Richard M.

July 24, 2023

Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task Force (FATF) action plans have already been addressed. The remaining actions will be addressed within 2-3 months.
In a recent statement, the Deputy

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Shufti Pro Blog

Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Grey List

By Richard M.

July 21, 2023

The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effort to be removed from the global FATF anti-money laundering watchdog list.
The Philippines was added to the FATF grey list in June 2021 and AML

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ImmigrationProf Blog

Immigrant of the Day: Arnel Pineda (Philippines)

By immigrationprof

July 13, 2023

Does the name Arnel Pineda ring a bell to you? He’s the current lead singer of the band Journey. You know: Don’t Stop Believin’. Pineda took on the role of lead singer in 2007, taking over for Steve Perry.Somewhere along…

Shufti Pro Blog

MALACAÑANG Orders Relevant Government Agencies to Implement Anti-Money Laundering Plans and Programs

By Richard Marley

July 7, 2023

Aiming to exit the Financial Action Task Force’s (FATF) grey list by January 2024, MALACAÑANG Palace, the official residence and principal workplace of the president of the Philippines has directed all relevant government agencies to implement anti-money laundering, anti-terrorism financing,

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Zen and the Art of Legal Networking

Law Firm ILN-telligence Podcast | Lorna Patajo-Kapunan, Kapunan & Castillo

By Lindsay Griffiths

June 29, 2023

Lorna Patajo-Kapunan is the founder of Kapunan & Castillo, a full-service law firm with extensive experience in varied areas of law, and a member of the International Lawyers Network. In this episode, Lorna returns as a guest to discuss the impact…

Shufti Pro Blog

AMLC Downgrades Terror Financing Risks in the Philippines From High to Medium-High

By Richard Marley

June 19, 2023

According to the anti-money laundering council, the Philippines’ terrorist and terrorism financing vulnerability has been downgraded from a high threat to a medium-high threat.
As a result of efforts and strategies both public and private sectors are pursuing, the threat

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