The Anti-Money Laundering Council (AMLC) has recognized the Aurora Pacific Economic Zone and Freeport Authority (APECO) for its contribution to the Philippines’ successful exit from the Financial Action Task Force (FATF) grey list, a move considered vital for restoring investor confidence and reinforcing financial integrity.
Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. presented the award to APECO president and chief executive Gil Taway IV in a ceremony held at the BSP Assembly Hall on Oct. 23, 2025.
The event was part of the AMLC’s recognition of partner agencies whose reforms and cooperation strengthened the country’s anti-money laundering and counter-terrorism financing (AML/CTF) framework ahead of the agency’s 25th anniversary in 2026.
Under the leadership of Taway since October 2023, the ecozone authority implemented wide-ranging transparency and accountability measures aligned with international financial compliance standards.
APECO, a member of the National Anti-Money Laundering and Counter-Terrorism Financing Coordinating Committee (NACC), fulfilled its commitments under Immediate Outcome 3, which evaluates the effectiveness of supervision and preventive measures across sectors.
The Philippines was removed from the FATF grey list in 2025, having been placed under increased monitoring in 2021 due to strategic deficiencies in its AML/CTF regime.
APECO also pursued a decisive policy shift away from online gaming and gambling operations toward strategic priorities such as national security, energy security, food security, tourism and community development.
Consistent with Taway’s strict stance against Philippine offshore gaming operators (POGOs), a POGO previously operating within the Casiguran-based ecozone ceased operations in the latter half of 2024.
“This recognition from the AMLC reinforces our commitment to transparency, efficiency, and accountability,” Taway said.
“APECO’s transformation is driven by our goal to be a trusted hub for industrial and commercial growth while ensuring the upliftment of the communities we serve,” he said.
