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 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.

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,

Authorities say this would help attract investments and aid overseas Filipino workers who send remittances through banks.

THE Philippines has been removed from the "grey list" of countries under increased monitoring for money laundering and countering the financing of terrorism. Th