Ceremonial Hall, Malacañan Palace
May 5, 2025

“This success is proof of what we, as a nation, as government, as people can achieve if we work together. As such, it is only fitting that we honor our collective acts of determination, of discipline and of decisive leadership,” remarked President Ferdinand R. Marcos Jr. during the Recognition Ceremony of the Presidential and National Anti-Money Laundering, Counter-Terrorism Financing and Counter-Proliferation Financing Coordinating Committee (NACC) at the Ceremonial Hall in Malacañan Palace.

Honoring the champions behind the Philippines’ successful removal from the Financial Action Task Force (FATF) Grey List, President Marcos Jr. highlighted the collective effort that made this achievement possible, underscoring the significance of the nation’s progress in strengthening the credibility of its financial system.

The President emphasized that this exit would have tangible benefits for Filipinos, particularly in making financial transactions simpler and more affordable. It also opens up opportunities for OFWs to send remittances at a lower cost and reduces the barriers for local businesses in securing international financing, thus fostering greater foreign investment. Most importantly, the exit strengthens the country’s safeguards against threats such as money laundering, terrorism financing and proliferation financing.

However, the President made it clear that this achievement was only the beginning. He called for continued efforts to institutionalize reforms, enhance enforcement mechanisms and build a more resilient financial system capable of withstanding future global challenges. The focus must remain on ensuring the Philippines does not fall back into the Grey List.

“Today marks a victory, let me be clear: The work is not yet finished. The journey continues. More importantly, we need to exert twice the effort to sustain our progress,” he conveyed.

The country was placed on the Grey List in 2021. It was removed in February 2025 after fulfilling FATF’s required action items to address gaps in the country’s anti-money laundering, counter-terrorism and proliferation financing frameworks.

“As we continue this march forward, let us do so in the spirit of a Bagong Pilipinas — a nation rooted in transparency, accountability and inclusive development,” President Marcos Jr. concluded in his speech.

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