By Luisa Maria Jacinta C. Jocson, Reporter
THE PHILIPPINES is likely to exit the “gray list” of the Financial Action Task Force (FATF) soon despite a “high incidence” of money laundering, mainly in the gaming sector, Moody’s said.
Choon Hong Chua, Moody’s senior director and head of the Financial Crime Practice Group for Asia and the Pacific and the Middle East, said that the Philippines is “on track” to exit the gray list.
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