Philippines Targets Casino AML Risk as FATF Grey List Threat Returns

Philippine President Ferdinand Marcos Jr directed government agencies to collaborate with the Anti-Money Laundering Council (AMLC) on February 12, 2026. The updated national strategy targets money laundering and terrorism financing across high-risk sectors. Casinos are explicitly named as a high-risk sector.

General Jose Melencio Nartatez, chief of the Philippine National Police, confirmed full support for the directive. “High-risk sectors such as real estate, casinos, and import-export businesses will be closely monitored,” he said. Nartatez added that law enforcement agencies will strengthen international cooperation to track illicit funds crossing Philippine borders.

The Anti-Cybercrime Group and Criminal Investigation and Detection Group are now receiving training in financial forensics as part of the enforcement push.

Grey List Risk

The Philippines joined the FATF grey list in mid-2021, partly due to money laundering through casino junkets. FATF removed the country in February 2025 after it completed an 18-point action plan. A government corruption scandal has since put that status at risk.

The Philippines Center for Investigative Journalism reported that 420 government-led flood control projects were ghost projects. The World Bank estimates typhoon-related losses at 1.2% of GDP annually, equivalent to approximately $5.64 billion in 2024.

Malacañang press officer Claire Castro maintained that the country’s removal from the grey list stands. “If there is legislation that may be needed, that is already the job of our lawmakers,” she said.

TGJ Take

The Philippines took four years to clear the FATF grey list. A corruption scandal now threatens that status, less than a year after removal. For casino operators, closer AML scrutiny is coming. Junket-linked activity will draw the most attention. Also, a grey list return would cut access to the correspondent banking relationships that cross-border payments depend on.