19 May 2025, Vienna International Center – The Philippines called for international organizations to collaborate and break down institutional operational silos to enhance international efforts on anti-money laundering and counter terrorist financing (AML/CTF) during a high-level event on Continuing the Global Call to Action to Combat Economic and Financial Crime.

FATF President Elisa de Anda Madrazo congratulated the Philippines for its AML/CTF reforms, underlining the strong political commitment of the country under President Ferdinand R. Marcos Jr.’s leadership. She also noted that enhancing AML/CTF efforts in the Philippines will also help the country as it combats online sexual abuse or exploitation of children.

The FATF President was part of a high-level panel that included UNODC Executive Director Ghada Waly, INTERPOL Acting Executive Director of Police Services Cyril Gout, and Permanent Representatives from UAE, Kenya, and the Philippines. The event was conducted on the sidelines of the 34th session of the Commission on Crime Prevention and Criminal Justice (CCPCJ) of the United Nations.

“International cooperation in intelligence sharing, capacity-building, and regulatory reform must be aimed at being ahead of the curve relative to criminal networks,” said Philippine Ambassador and Permanent Representative to the UN international organizations in Vienna Evangelina A. Bernas. She highlighted the Philippines’ reforms that enabled the country to exit from the FATF Grey List earlier this year. These included significant regulatory improvements that strengthened oversight of designated non-financial businesses and professions and the substantial increase in beneficial ownership transparency and protective measures to prevent abuse while ensuring uninterrupted activities of legitimate non-profit organizations.

“The Philippines’ removal from the FATF grey-list is expected to yield benefits,” said Ambassador Bernas. “Overseas Filipinos and their families will directly benefit from lower transaction costs and reduced compliance burdens for overseas remittances,” the envoy added. 

“The perpetual catch-up game with criminal finances requires an enhanced international cooperation that sustains reforms and ensures technical assistance for developing countries,” Ambassador Bernas stated. “International cooperation must anticipate future challenges…We need a cooperative and forward-looking perspective.” END