{"id":5868,"date":"2021-07-19T08:54:02","date_gmt":"2021-07-19T08:54:02","guid":{"rendered":"https:\/\/amp.ngo\/?p=5868"},"modified":"2021-07-19T08:54:02","modified_gmt":"2021-07-19T08:54:02","slug":"philippines-again-under-supervision-because-of-gray-financial-flows","status":"publish","type":"post","link":"https:\/\/amp.ngo\/en\/philippines-again-under-supervision-because-of-gray-financial-flows\/","title":{"rendered":"Philippines again under supervision because of \u201agray\u2018 financial flows"},"content":{"rendered":"<p>The Financial Action Task Force (FATF), a Paris-based dirty money watchdog, decided on June 25, 2021, to include the Philippines on it\u2019s \u201cgray list\u201d again. After failing to properly \u201c<a href=\"https:\/\/www.fatf-gafi.org\/publications\/fatfgeneral\/documents\/outcomes-fatf-plenary-june-2021.html\" target=\"_blank\" rel=\"noopener\">address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing<\/a>,\u201d the Philippines will now be monitored by the FATF and must report three times a year on countermeasures, for instance against environmental crime and corruption.<\/p>\n<p>\u201c<a href=\"https:\/\/www.rappler.com\/business\/philippines-lands-global-dirty-money-watchdog-gray-list-again?mc_cid=9622f026d6&amp;mc_eid=f18a12f635\" target=\"_blank\" rel=\"noopener\">Being added to the FATF\u2019s gray list means higher interest rates and processing fees, as well as more layers of scrutiny from financial institutions<\/a>.\u201d Within defined deadlines the government and law enforcement agencies must implement steps, for example towards the transparency of beneficial ownership and an increase of investigations and prosecutions. The Philippines has been under monitoring already between 2000 and 2005, and 2012 and 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Action Task Force (FATF), a Paris-based dirty money watchdog, decided on June 25, 2021, to include the Philippines on it\u2019s \u201cgray list\u201d again. After failing to properly \u201caddress strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing,\u201d the Philippines will now be monitored by the FATF and must [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[58,59,62],"tags":[],"class_list":["post-5868","post","type-post","status-publish","format-standard","hentry","category-human-rights-news","category-internal-affairs","category-international-institutions"],"_links":{"self":[{"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/posts\/5868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/comments?post=5868"}],"version-history":[{"count":1,"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/posts\/5868\/revisions"}],"predecessor-version":[{"id":5884,"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/posts\/5868\/revisions\/5884"}],"wp:attachment":[{"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/media?parent=5868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/categories?post=5868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amp.ngo\/en\/wp-json\/wp\/v2\/tags?post=5868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}