Palace: POGO ban played key role in removal from FATF grey list
Credit to Author: Ian Laqui| Date: Sun, 2 Mar 2025 16:54:00 +0800
MANILA, Philippines — President Ferdinand Marcos Jr.'s directive last year to eliminate all Philippine Offshore Gaming Operators (POGOs) was instrumental in the Philippines' removal from the FATF grey list, Palace Press Officer Undersecretary Claire Castro said.
In an interview on Sunday, March 2, with DZBB, Castro explained that the continued presence of POGOs was one of the factors preventing the Philippines from being excluded from the grey list.
“Napakalaking pong naging factor ito (POGO ban) para makita ng FATF ‘yung improvement,” Castro said in a DZBB interview.
(This (POGO ban) was a very significant factor in the FATF seeing the improvement.)
Castro added that Marcos issued Executive Order 33, which directed that all recommendations and necessary actions be taken to remove the Philippines from the FATF grey list, emphasizing that this was crucial, particularly for Overseas Filipino Workers and investors.
In July 2023, EO 33 was enacted to establish the nation's framework for addressing anti-money laundering, counter-terrorism financing and counter-proliferation financing from 2023 to 2027.
The Philippines was removed from the FATF grey list on February 21, with the FATF acknowledging the country's progress in strengthening its anti-money laundering and counter-terrorism financing measures.
This delisting means the Philippines will no longer face enhanced monitoring by the FATF.
The FATF explained that being on the grey list indicates a nation's commitment to improving its financial security through a set action plan.
However, National Union of People’s Lawyers labeled this removal a “pyrrhic victory” linked to political repression saying that in compliance with FATF, the government has used counter-terrorism financing to undermine civic spaces and fundamental freedoms.
Before the removal, the Philippines had been on the FATF grey list since June 2021.