The Philippines has begun formulating a new National Anti-Money Laundering and Counter-Terrorism Financing Strategy (NACS) for 2026–2030. This step reinforces efforts to maintain its status outside the Financial Action Task Force grey list.
The strategy will be led by the Anti-Money Laundering Council (AMLC) in coordination with key government agencies. This initiative follows the country’s removal from the FATF grey list in 2024. It aims to ensure sustained compliance ahead of the next evaluation cycle in 2027.
Strategy Designed to Strengthen AML and CTF Defenses
According to the Official Gazette, the 2026–2030 NACS will build on previous reforms. At the same time, it will address remaining vulnerabilities in anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks.
The roadmap will set implementation timelines, assign agency responsibilities, provide technical guidance, and establish monitoring mechanisms. Sensitive sectors, including gaming and other cash-intensive industries, are expected to receive heightened focus.
The overarching objective is not only to avoid re-entry into the FATF grey list. Additionally, it aims to demonstrate measurable and sustained improvements in regulatory supervision and enforcement.
Whole-of-Government Approach
President Ferdinand Marcos Jr. has directed national government agencies, government-owned or controlled corporations (GOCCs), and local government units (LGUs) to align their institutional action plans with the new strategy.
This includes the Philippine Amusement and Gaming Corporation (PAGCOR), the country’s state gaming regulator. Authorities require agencies to integrate their AML/CTF measures into a coordinated national framework rather than operate independently.
LGUs are encouraged to support implementation, particularly in areas where localized risk exposure has been identified.
Risk-Based Reform Following National Assessment
The Philippines’ Third National Risk Assessment (2021–2024) will shape the new roadmap. The assessment highlighted the need for a risk-based approach to AML and CTF enforcement.
Previous FATF reviews highlighted deficiencies in regulating casino and junket operations, as well as gaps in handling Suspicious Transaction Reports (STRs) filed by gaming entities. The 2026–2030 strategy is expected to directly address these weaknesses.
Countdown to 2027 FATF Evaluation
The Philippines will undergo another FATF assessment in 2027, evaluating compliance with the FATF’s 2014 Recommendations. With a narrow implementation window, the new NACS must demonstrate tangible progress in supervision, reporting systems, and enforcement actions. This is particularly important in high-risk sectors such as financial services and gaming.
For the AMLC, the task involves coordinating multiple stakeholders and ensuring that reform commitments translate into measurable outcomes. For regulators and GOCCs like PAGCOR, the focus will be on strengthening internal compliance frameworks and showing consistent execution.
Outlook
The development of NACS 2026–2030 signals the Philippines’ commitment to long-term AML and CTF reform. By institutionalizing a coordinated, risk-based framework, authorities aim to safeguard financial stability and protect the integrity of regulated sectors. They also seek to maintain international confidence ahead of the 2027 FATF review.
