Home -
Original -
Main body -

WikiFX Express

XM
FXTM
IC Markets Global
LiquidBrokers
EC markets
FOREX.com
TMGM
HFM
Pepperstone
octa

Can Philippines Combat Crypto Scams and Money Laundering Effectively?

WikiFX
| 2025-01-24 17:15

Abstract:Can the Philippines effectively fight crypto scams as an instrument of money laundering and other illegal gambling? Discover the challenges, reforms, and efforts to exit the FATF gray list.

Can Philippines Combat Crypto Scams and Money Laundering Effectively (2).jpg

The Philippines' plan to outlaw internet casinos that cater to international gamblers is intended to combat money laundering, but experts warn that considerable hazards remain. According to Moody's analyst Choon Hong Chua, underground gambling and developing scam operations continue to undermine the country's efforts to strengthen its anti-money laundering reputation.

Issues with Illegal Operators and Organized Crimes

Despite President Ferdinand Marcos Jr.'s late 2024 prohibition, unauthorized operations have continued. Recent Bureau of Immigration searches discovered claimed fraud centers and illicit internet gambling operations and even crypto operations, demonstrating that organized crime remains profitable and tough to remove. Chua noted that criminal operations frequently adapt, making law enforcement a constant fight.

online casino.jpg

Philippines' Attempts to Get Off the FATF Gray List

The Financial Action Task Force (FATF) acknowledged the Philippines' efforts in addressing the issues that landed the nation on its grey list in June 2021.

  • Reforms include mitigating hazards from casino junkets.
  • Unregistered remittance operators are subject to sanctions.
  • Money laundering and terrorist funding investigations and prosecutions will be strengthened.

Exiting the FATF gray list this year may lower remittance costs and boost economic activity, helping millions of overseas Filipino workers (OFWs) and their families.

Consistency in Anti-Money Laundering Enforcement

Chua emphasized the need for constant anti-money laundering efforts to preserve success. He emphasized that nations on the FATF radar had previously cycled in and out owing to uneven enforcement. While financial institutions are subject to strict regulation, corporations serving high-risk clientele remain susceptible.

“Across the world, corporate organizations are not as regulated as financial institutions,” says Chua. This gap emphasizes the importance of maintaining attention in combating money laundering concerns.

Final Thoughts

The Philippines has made progress in preventing money laundering through legislative measures and an online casino prohibition, but obstacles remain. Illegal operators and developing organized crime necessitate ongoing enforcement in order for the country to improve and be removed from the FATF gray list. Exiting the watchlist will provide huge economic benefits, but as Chua argues, perseverance is essential for preventing a relapse into heightened monitoring. The battle against money laundering must remain a top focus for the Philippines as it pursues long-term prosperity.

Footer.jpg
Market NewsBreaking NewsSecurities and Exchange CommissionPH SECPhilippine Securities and Exchange CommissionInvestment ScamScam AlertFraud Alert

Read more

SFC Convicts Ng Ka Hei for False Trading in Hong Kong Stocks

Hong Kong trader Ng Ka Hei convicted of false trading in listed stocks as SFC intensifies crackdown on market manipulation. Read the full report now.

Original 2026-01-22 18:23

He Was Promised RM1.45 Million in Return, But He Lost RM742000 Instead

A civil servant in Dungun lost RM742,000 after responding to a Facebook investment advertisement that promised returns of RM1.45 million, only to be drawn into a scheme involving dozens of transactions across multiple bank accounts with no payout.

Original 2026-01-22 18:08

BDFX Exposure: Alleged Misleading Market Advice & Poor Withdrawal Management

Do BDFX officials mislead you with poor market advice that leads to capital losses? Do you feel they themselves cannot trade the risk management analysis perfectly? Did the Comoros-based forex broker close your forex trading account and steal your funds? Did your numerous fund withdrawal requests go in vain? These are potential forex investment scams. Many traders have highlighted these trading issues on broker review platforms. Check out some of their complaints in this BDFX review article.

Original 2026-01-21 20:37

PURE MARKET Review: Investigating Deposit Credit Failures & Withdrawal Complaints

Did PURE MARKET stop processing payments after receiving deposits on the trading platform? Do you get a sense of a Ponzi scheme when trading with PURE MARKET? Does the broker intentionally delay your fund withdrawals? Have you faced a profit deduction on account of a wrong, arbitrary claim by the broker? Does the broker change the spread frequently to cause you losses? In this PURE MARKET review article, we have investigated these complaints against the Vanuatu-based forex broker. Keep reading!

Original 2026-01-21 18:54

WikiFX Express

XM
FXTM
IC Markets Global
LiquidBrokers
EC markets
FOREX.com
TMGM
HFM
Pepperstone
octa

WikiFX Broker

FXCM

FXCM

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AVATRADE

AVATRADE

Regulated
HFM

HFM

Regulated
GTCFX

GTCFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AVATRADE

AVATRADE

Regulated
HFM

HFM

Regulated
GTCFX

GTCFX

Regulated
XM

XM

Regulated

WikiFX Broker

FXCM

FXCM

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AVATRADE

AVATRADE

Regulated
HFM

HFM

Regulated
GTCFX

GTCFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AVATRADE

AVATRADE

Regulated
HFM

HFM

Regulated
GTCFX

GTCFX

Regulated
XM

XM

Regulated

Latest News

China Holds Rates Steady After Hitting 5% Growth Target, Easing Expected in Q1

WikiFX
2026-01-20 11:00

JPY Volatility Ahead: PM Takaichi Calls Snap Election Amid Rate Hike Speculation

WikiFX
2026-01-20 11:35

Is Forex Still Worth It in 2026? Global Central Banks Are Splitting

WikiFX
2026-01-20 11:34

The Fed on Trial: Markets Brace for Supreme Court Showdown Over Central Bank Independence

WikiFX
2026-01-20 12:00

Trade War 2.0: Trump’s Greenland Ultimatum Rattles Transatlantic Alliance

WikiFX
2026-01-20 12:10

Euro Stabilizes as France Forces 2026 Budget; Bond Spreads Narrow

WikiFX
2026-01-20 12:30

JPY Volatility Spikes as PM Takaichi Calls Snap Election and Fiscal Gamble

WikiFX
2026-01-20 15:50

JGB Yields Breach 4% as PM Takaichi's Fiscal Gambit Triggers 'Sell-Off'

WikiFX
2026-01-20 17:30

Scrolled, Clicked, Lost RM166,000: Factory Worker Trapped by Online Investment Scam

WikiFX
2026-01-20 17:56

China Macro: Liquidity Trap Signals Persist Despite Credit Bump

WikiFX
2026-01-20 18:00

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Stockfish FX Limited

Stockfish FX Limited

Morning Sky Forex

Morning Sky Forex

Able World

Able World

Karen International

Karen International

TEMO

TEMO

BKG

BKG

TANDEM

TANDEM

TIGER

TIGER

MagKing

MagKing

MYfintec

MYfintec