Malacañang on Wednesday welcomed the European Union’s (EU) decision to strike the Philippines off its list of high-risk countries for money laundering and terrorism financing, calling it a clear recognition of the Marcos administration’s reform push.
In a Palace briefing, Presidential Communications Office (PCO) Undersecretary Claire Castro said the EU’s move affirms the country’s stronger safeguards against illicit financial activities.
“This just means that the country’s anti-money laundering and anti-terrorism financing measures continue to strengthen,” Castro said.
She noted that President Ferdinand “Bongbong” Marcos Jr. directed the Bangko Sentral ng Pilipinas (BSP) to step up reforms to protect the integrity of the financial system.
Those measures, she added, are expected to spur economic growth, strengthen global confidence, and attract more foreign investments.
The Palace said the delisting also stands to benefit overseas Filipino workers through potentially lower remittance costs and will bolster partnerships between local and foreign banks.
Castro stressed that reforms will not stop with the EU decision. “Ipagpapatuloy nito ang pagpapatibay sa ating anti-money laundering reforms para sa long-term progress ng bansa,” she said.
The EU formally removed the Philippines from its high-risk roster on June 10, 2025, after recognizing improvements in the country’s anti-money laundering and counter-terrorism financing framework, as well as the resolution of technical gaps earlier flagged by the Financial Action Task Force (FATF).
The Philippines had been on the EU list since March 2022.
