Regulatory Alerts2025-02-28
CL-2025-011: Financial Action Task Force (FATF) Publications – 21 February 2025
The Bangko Sentral ng Pilipinas issued a circular directing all supervised financial institutions to incorporate the latest FATF jurisdictional updates into their risk analysis and mitigation strategies. The document details FATF designations including high-risk jurisdictions subject to countermeasures such as North Korea and Iran, jurisdictions under increased monitoring like Laos and Nepal, and the removal of the Philippines from the grey list. It further reiterates the suspension of the Russian Federation's membership and urges vigilance against risks arising from circumvention of sanctions.
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