Philippines may stay on FATF list

The Philippines may have to wait another year before it can be removed from the list of so-called "uncooperative" countries by the Financial Action Task Force (FATF), Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas said Monday 31 May.

The Philippines will not be removed from the FATF blacklist anytime soon because the review of the law against dirty money will drag on until yearend, said Buenaventura, who also chairs the Philippines' Anti-Money-Laundering Council.

Removal from