President Ferdinand Marcos Jr. has signed Executive Order No. 33, implementing the National Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing Strategy (NACS) 2023-2027.
The goal is to exit the “gray list” of the Financial Action Task Force (FATF) by addressing money laundering, terrorist financing, and proliferation financing concerns.
The order covers various government agencies and offices, and establishes the National AML/CFT Coordinating Committee (NACC), which will oversee the implementation of the NACS.
The NACC will be chaired by the Executive Secretary and vice-chaired by the Bangko Sentral ng Pilipinas governor, along with other agency heads as members, including representatives from the Department of Foreign Affairs (DFA), Department of Finance (DOF), Department of Justice (DOJ), Department of National Defense (DND), Department of the Interior and Local Government (DILG), Department of Trade and Industry (DTI), Securities and Exchange Commission (SEC), Insurance Commission (IC), Philippine Amusement and Gaming Corporation, Cagayan Economic Zone Authority, Aurora Pacific Economic Zone and Freeport Authority, and National Intelligence Coordinating Agency (NICA).
