From the Office of the Presidential Spokesperson on Philippines risks FATF blacklist over AMLC changes, 04 Jan. 2017

The Financial Action Task Force (FATF) potential blacklist over changes in the chairmanship of AMLC has no basis.

The President has not given his imprimatur on the Anti-Money Laundering Council (AMLC) changes. He simply complained of some AMLC members of serving other masters.

The bill proposed by Representative Gloria Arroyo has to undergo deliberation in Congress. We therefore expect that the FATF blacklist risk mentioned would be considered during the discussion.