THE 2023 Basel Anti-money Laundering Index ranked countries with the highest risk of money laundering and terrorist financing. The Philippines placed 53 out of 152 countries with a score of 5.64 out of 10, higher than Japan (ranked 106th at 4.66), South Korea (ranked 112th at 4.56) and Singapore (ranked 118th at 4.30).
The Paris-based Financial Action Task Force (FATF) put the Philippines on the gray list. It means that 23 countries, including us, are closely monitored by the FATF to improve measures to stop money laundering and financing of terrorism. Being included in the gray list cautions other countries to exercise due diligence in dealing with those on the list.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.