In strict compliance with Justice Secretary Jesus Crispin "Boying" C. Remulla's marching orders to zero in on financial and economic crimes, the unwavering efforts of the Department of Justice (DOJ) in investigating and prosecuting the same has once again been highlighted on a global stage following the removal of the Philippines from the "grey list" of money laundering and terrorism financing.
International money laundering/terrorism financing watchdog Financial Action Task Force (FATF) describes the "grey list" as a registry of countries under strict monitoring for having a high volume of money laundering and terrorism financing incidents.
Roughly four years ago, the Philippines was included in the said "grey list" wherein our country has committed to resolve the identified strategic deficiencies in addressing the said financial crimes within agreed timeframes.
The removal of the Philippines from the said list means that it has completed its 18 point Action Plan against money laundering and terrorism financing so it will no longer be subject to the FATF’s increased monitoring processes.
Secretary Remulla welcomed this development, personally commending the Head of Task Force on Anti-Money Laundering Deputy State Prosecutor (DSP) Deana Perez, and Head of Task Force on Terrorism Financing Senior Deputy State Prosecutor (SDSP) Peter L. Ong and Senior Assistant State Prosecutor (SASP) Rex Guingoyon for their vital role in levelling-up the investigation and prosecution of money launderers and terrorism financiers.
Meanwhile, Undersecretary-in-Charge of the DOJ Law Enforcement Cluster and the National Prosecution Service (NPS) Jesse Hermogenes T. Andres lauded the NPS for their role in the Regional money laundering and terrorism financing inter-agency task groups. "The prosecutors are a vital cog in the proactive effort in the investigation and prosecution of all forms of financial crimes to maintain the country's financial integrity."
"Our zeal in delivering real justice in real time has once more gained international recognition. Let me take this opportunity as Chairman of the Financial Intelligence, Law Enforcement and Prosecution Sub-Committee ( FILEPSC) to thank the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) represented by Col. David Poklay, National Bureau of Investigation (NBI) represented by Atty. Minnie Retanal, Philippine Drug Enforcement Agency (PDEA) represented by Martin Francia, Customs Deputy Commissioner Teddy Raval, and agents from the National Intelligence Coordinating Agency (NICA), Intelligence Service of the Armed Forces of the Philippines (ISAFP) and Anti-Money Laundering Council (AMLC) who make up the FILEPSC, for their professionalism and timely contribution in the battle against money laundering, terrorist financing and proliferation financing,” Usec Andres added.
