The Market Monitor Minding the Nation's Business
President Ferdinand Marcos Jr. has directed all relevant government agencies to assist in crafting the National Anti-Money Laundering and Counter-Terrorism/Proliferation Financing Strategy (NACS) for 2026–2030.
Acting by presidential authority, Executive Secretary Ralph Recto signed Memorandum Circular No. 113 on February 12, tasking the Anti-Money Laundering Council (AMLC), as secretariat of the National AML/CTF Coordinating Committee, to “provide technical and administrative support, issue timelines, and monitor compliance of concerned government agencies and instrumentalities in drafting the NACS 2026–2030.”
“The heads of concerned government agencies and instrumentalities are hereby directed, and heads of LGUs are hereby encouraged, to ensure that their institutional action plans for the NACS 2026–2030 are aligned with their respective agency resources, subject to existing laws, rules, and regulations,” the circular added.
The directive calls on national government agencies, government-owned or -controlled corporations, and local government units to fully support the AMLC and actively take part in updating the country’s anti-money laundering and counter-terrorism financing blueprint.
The Philippines recently completed its Third National Risk Assessment covering 2021–2024, identifying priority threats and vulnerabilities linked to money laundering, terrorism financing, and proliferation financing, and recommending risk-based measures for inclusion in the updated strategy.
Revising the NACS is seen as crucial ahead of the country’s Fourth Mutual Evaluation by the Asia/Pacific Group on Money Laundering in 2027. The review will examine the Philippines’ technical compliance with the 40 Recommendations of the Financial Action Task Force and assess effectiveness across 11 Immediate Outcomes.
The memorandum also noted that a FATF Standards Technical Compliance Gap Analysis is ongoing to ensure the country’s AML/CTF/CPF framework aligns with global standards and is prepared for the 2027 APG assessment.
The issuance follows FATF recommendations urging the Philippines to continue working closely with the APG to sustain reforms and strengthen its anti-money laundering and counter-terrorism financing regime.