Philippines exits Financial Action Task Force (FATF) grey list in February 2025 after reforms including beneficial ownership (BO) disclosure measures raise compliance and strengthen cross-agency data sharing

Placed on the FATF grey list in 2021, the Philippines adopted an 18-point action plan prioritising the timeliness, adequacy, and accuracy of BO information. Following regulatory reforms, at least 24 Securities and Exchange Commission data-sharing agreements with government agencies, and an amnesty programme, BO disclosure rates among active registered companies rose from 26% to 69% by 2024. The FATF delisted the Philippines in February 2025; the EU followed in June 2025.

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