The Philippine government will continue to implement the action plan, including the amendment of some legislations, in order to comply with the requirements of the Financial Action Task Force, Malacanang said on Monday.

This was after the FATF included the Philippines on its "grey list" or jurisdictions that will be under increased monitoring and working to address strategic deficiencies in their regimes to counter money laundering, terroist financing, and proliferation financing.

"There are no counter measures imposed. So, there's no decision. This only means increased monitoring," said Presidential Spokesperson Harry Roque of the latest action of FATF on the Philippines in a press briefing.

"And on our part, we are promising to implement our action plan, including the passage of the amendments on the anti0money laundering and the CTF (Counter-Terrorism Financing) laws, the enhancement of our AML (Anti-Money Laundering) and CTF supervisory framework, reinforcement of money laundering and terrorism financing investigation and prosecution an dcampaigns to increase public awareness," he added.

Roque said the global dirty money watchdog will monitor the Philippine progress.

"So we have not been put under negative list, it's still the same, but they want to see further improvements," he said. Celerina Monte/DMS