Palace pushes faster corruption probes, asset freezeMANILA, Philippines — Malacañang cited the need to promptly investigate alleged anomalies and freeze assets linked to corruption after the Bangko Sentral ng Pilipinas (BSP) admitted that the country faces the risk of returning to the Financial Action Task Force (FATF) “gray list” due to corruption issues. The policy reforms allowed the Philippines to deliver on the commitments in its action plan addressing the deficiencies enumerated in June 2021 when it was placed on the gray list. However, BSP Governor Eli Remolona said last week that the Philippines is at risk of going back to the gray list because of recent corruption controversies involving multibillion-peso flood control scams. “We know that we have been removed from the gray list of the FATF. I think the country, under the leadership of President Marcos Jr., is sincere and the administration is serious in fighting corruption,” the Palace press officer said.

Source: Philippine Star February 09, 2026 16:36 UTC