Cruz Marcelo & Tenefrancia (CMT) welcomes the announcement of the Financial Action Task Force (FATF) on the removal of the Philippines from the “grey list” following its on-site visit last January 2025. CMT, through partner Rogelio D. Torres, Jr., actively participated and contributed to the efforts of, as well as coordinated with, the Anti-Money Laundering Council (AMLC) in obtaining this significant development in the Philippines’ effort to spur further economic growth in the country. Atty. Torres was the representative for the private legal sector interviewed by the FATF during the January 2025 on-site visit. Indeed, CMT joins the AMLC’s efforts in combatting money laundering and terrorism financing in all forms and venues. The removal of the Philippines from the ”grey list” will significantly impact its economy by, among others, strengthening investment prospects and encouraging financial transparency across multiple sectors.
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