DOJ vows to continue fight vs. money laundering, terrorism financing

The Department of Justice (DOJ) on Friday vowed to continue the fight against money laundering and terrorism financing following the removal of the country from the European Commission’s (EC) list of high-risk countries for financial crimes.

In a statement, Justice Secretary Jesus Crispin Remulla said the DOJ will be relentless in implementing policies and measures to promote economic integrity.

“This accomplishment is an affirmation of our government’s unyielding stand against money laundering and terrorism financing, it will also serve as a catalyst for the DOJ to further strengthen the rule of law not just within the Philippines but even at a global stage,” he said.

The commission, the European Union’s executive body, announced that the country, along with Barbados, Gibraltar, Jamaica, Panama, Senegal, Uganda, and the United Arab Emirates, was delisted in its updated list of high-risk jurisdictions.

According to the DOJ, the EC said the Philippines effectively addressed its technical deficiencies in anti-money laundering and counter-terrorism financing.

To recall, in February, the FATF announced that the Philippines is no longer under increased monitoring for money laundering and financing of terrorism or “grey list.” —VAL, GMA Integrated News