The National Union of Peoples’ Lawyers has expressed concerns over the Philippines’ removal from the Financial Action Task Force’s grey list, calling it a “pyrrhic victory” linked to political repression.

The Philippines is no longer on the list of countries under heavy scrutiny by the top global money laundering and terrorism financing watchdog.

The Financial Action Task Force (FATF), a global anti-money laundering watchdog, said on Friday it had removed the Philippines from its 'grey' list of countries under increased scrutiny, while it added Laos and Nepal to that list.

The Financial Action Task Force (FATF) has removed the Philippines from its grey list following a successful on-site evaluation, praising the countrys progress in strengthening anti-money laundering measures.

The Philippines has been removed from the Financial Action Task Force “grey list” of countries under increased monitoring for money laundering and

The Philippines has been taken off a global watchdog’s dirty-money list, a move that could spur remittances and foreign investments in one of Asia’s fastest-growing economies.

While removing the Philippines from the grey list, the FATF added Laos and Nepal, bringing the total number of countries on the list to 25 that includes Bulgaria, Croatia, Monaco, Nigeria and Yemen.

The Philippine government welcomed the country’s removal from a global watchdog’s dirty-money list, which could spur remittances and foreign investments in one of Asia’s fastest-growing economies. The Financial Action Task Force’s (FATF) decision to take Manila off the list is expected to “facilitate faster and lower-cost cross-border transactions,