The Bureau of Customs (BOC) played a pivotal role in the Philippines’ removal from the Financial Action Task Force (FATF) Grey List, marking a major achievement in the country’s efforts to combat money laundering and terrorist financing. On February 21, 2025, the FATF officially announced that the Philippines was no longer under increased monitoring, recognizing the government’s strengthened financial safeguards and commitment to international compliance.

Aligned with the President’s Executive Order No. 33 s. 2023, Commissioner Bienvenido Y. Rubio reaffirmed the BOC’s commitment to sustain cross-border enforcement and AML/CTF compliance.

In coordination with key agencies such as the Department of Information and Communications Technology, Philippine Coast Guard, Office of Transportation Security, Department of Justice and the Anti-Money Laundering Council, the BOC further strengthened its cross-border measures against bulk cash smuggling by fully integrating Customs clearance into the eTravel system, deploying cash-sniffing dogs, expanding capacity-building programs, and upgrading baggage scanning technologies. These measures resulted in a 455-fold increase in currency declarations and a rise in currency seizures, reaching 194 in 2024 alone, overshadowing the total number of seizures in the last 10 years combined.

The Philippines’ removal from the FATF Grey List shows that the government is committed to ensuring financial integrity and global security. With the BOC protecting our borders, the country is better positioned to sustain these gains and further strengthen its anti-money laundering and counter-terrorism financing efforts in the years ahead.

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