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

THE Philippines has been removed from the "grey list" of countries under increased monitoring for money laundering and countering the financing of terrorism. Th

The Department of Justice (DOJ) on Sunday welcomed the Philippines' exit from an international body's anti-dirty money “grey list”, saying prosecutors had a vital role in going after money launderers and terrorism financiers.

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.

Authorities say this would help attract investments and aid overseas Filipino workers who send remittances through banks.

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,