The Philippines Department of Justice (DOJ) has pledged to significantly intensify its battle against financial crimes, including money laundering, terrorism financing, and proliferation financing. This renewed commitment follows a pivotal decision by the European Commission on Friday, June 13, 2025, to remove the Philippines from its list of markets deemed at high risk for financial crimes.

In a statement, the DOJ asserted, as reported by iGaming Times, that the Philippines has “effectively addressed [its] technical deficiencies on AML/CFT (anti-money laundering/counter-terrorism financing) … aligned with international standards.” Justice Secretary Jesus Crispin Remulla affirmed, as reported by iGaming Times, that the delisting “is an affirmation of our government’s unyielding stand against money laundering and terrorism financing” and “will serve as a catalyst for the DOJ to further strengthen the rule of law not just within the Philippines, but at a global stage.”

Cleaning its Financial House: FATF Grey List Exit

This removal from the EU’s high-risk list marks a continuation of the Philippines’ recent success in bolstering its financial integrity frameworks. Earlier this year (2025), the country celebrated its exit from the Financial Action Task Force’s (FATF) “grey list” of countries deemed vulnerable to financial crimes. The Philippines had been placed on the FATF list in 2021, primarily due to concerns over money laundering facilitated by casino junkets and a perceived lack of prosecution in terrorism-financing cases. The country was only removed from this list after successfully completing an extensive 18-point action plan designed to demonstrate the robustness of its financial system’s integrity. Among the key reforms authorities vowed to implement were increasing investigations and prosecutions of financial crimes, applying greater scrutiny to non-financial institutions including casinos, and utilising advanced fraud detection technologies to identify financial crimes.

Evolution of Casino AML Coverage

The legal framework for combating money laundering in the Philippines has evolved significantly over time, particularly concerning the gambling sector. The Philippines initially passed its Anti-Money Laundering Act in 2001. For many years, however, this law did not apply to gaming, an industry widely seen as inherently susceptible to financial crimes. It was not until the passage of Republic Act 10927 in 2017 that all Philippines casinos-including land-based, online, and ship-based operations-were finally considered “covered persons” under the law, bringing them under the purview of AML regulations. In recent years, the Philippines has demonstrated a resolute stance in cracking down on crime associated with gambling. Notably, last July (2024), President Ferdinand Marcos Jr. banned Philippine Offshore Gaming Operations (POGOs) following widespread reports of financial crimes, online scams, and human trafficking linked to these operations.

An editorial published by iGaming Times (originally in the Manila Bulletin) commented on the Philippines’ progress, stating that the country “has made tangible progress in aligning with international standards” on AML/CFT. However, the editorial also issued a warning, conveying that “The delisting from the EU watchlist is a milestone to celebrate - but it is not an endpoint.” It characterised the delisting as “a stepping stone toward a more transparent, trusted, and inclusive financial system,” asserting that “The country must stay the course and remain agile in confronting new and complex threats. In doing so, the Philippines can earn not just regulatory approval, but also the long-term trust of investors, partners and citizens alike.”

The Philippines DOJ’s pledge to double down on AML efforts following its removal from the EU’s high-risk list signals a determined commitment to safeguarding the nation’s financial system. This proactive stance, built upon recent successes in addressing deficiencies and a history of evolving regulatory frameworks, aims to further strengthen the rule of law and foster long-term trust among international investors, partners, and citizens, as the country continues its fight against financial crimes linked to gambling and other illicit activities.