Philippines removed from money laundering list

The Philippines has been removed from a list of money laundering havens held by the Financial Action Task Force (FATF) central bank governor Rafael Buenaventura said on Friday 11 February.

Buenvantura said in an interview that the Paris-based FATF's decision would encourage more portfolio investments and ease foreign exchange transactions.

"We had to prove that our [anti-money laundering law] is acceptable. It took some time for them to see that," the Bangko Sentral ng Pilipinas governor said

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