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) has removed the Philippines from its gray list after an on-site visit in January confirmed the country’s significant progress in strengthening measures on anti-money laundering and combatting the financing of terrorism (AML/CFT).

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.

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,

The Philippines celebrates its removal from the FATF 'grey list', a move expected to ease financial transactions and benefit over two million overseas Filipino workers.

A global anti-money laundering watchdog said Friday it had removed the Philippines from its list of countries subject to increased monitoring, while adding Laos and Nepal.

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. Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump to Halt NY Congestion Pricing by Terminating ApprovalTrump Asserts Power Over NYC,

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.