The Financial Action Task Force (FATF), a global anti-money laundering watchdog, said on Friday it had removed the Philippines from its 'grey' list of countries under increased scrutiny, while it added Laos and Nepal to that list.

In an update on 21 February following its latest plenary, the FATF (Financial Action Task Force) has removed the Philippines from its grey list while adding two and updating the position of many of the jurisdictions still on the list.

The Financial Action Task Force has also added Laos and Nepal to its list of nations subject to “increased monitoring.”

The Philippines has been removed from the Financial Action Task Force’s (FATF) grey list after more than three years, following significant progress in

The Philippines is no longer on the list of countries under heavy scrutiny by the top global money laundering and terrorism financing watchdog.

The Philippine government welcomed the country’s removal from a global watchdog’s dirty-money list, which could spur remittances and foreign investments in one of Asia’s fastest-growing economies. The Financial Action Task Force’s (FATF) decision to take Manila off the list is expected to “facilitate faster and lower-cost cross-border transactions,