THE European Chamber of Commerce of the Philippines (ECCP) said the Philippines should fully implement the Anti-Financial Account Scamming Act (AFASA) to build on the country’s removal from the European Commission’s watch list.
“We reiterate our support for the full implementation of key measures such as AFASA, which strengthens the security of financial systems and empowers institutions to combat illicit financial activities more effectively,” the ECCP said in a statement on Thursday.
“The ECCP welcomes the European Commission’s decision to remove the Philippines from its list of jurisdictions with a high risk of money laundering and terrorism financing,” it added.
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