MANILA — Malacañang on Wednesday welcomed the European Union’s (EU) decision to remove the Philippines from its list of high-risk third countries for money laundering and terrorism financing, calling it proof of the Marcos administration’s reform agenda.

Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro said the move affirms the country’s stronger safeguards against financial crimes.

“Ibig sabihin lang nito ay patuloy ang paglakas ng anti-money laundering at anti-terrorism financing measures ng bansa,” Castro said in a press briefing.

She noted that under President Ferdinand R. Marcos Jr.’s directive, the Bangko Sentral ng Pilipinas (BSP) has ramped up reforms to protect the integrity of the financial system, which are expected to boost growth and global investor confidence.

According to the BSP, the EU’s decision shows that international trust in Philippine financial institutions is being restored, Castro added. The Palace also said the delisting is expected to draw more investments, lower remittance costs for overseas Filipino workers, and strengthen local banks’ partnerships with foreign counterparts.

“Ipagpapatuloy nito ang pagpapatibay sa ating anti-money laundering reforms para sa long-term progress ng bansa,” Castro said.

The EU officially delisted the Philippines on June 10, 2025, after citing improvements in its anti-money laundering and counter-terrorism financing framework and the resolution of gaps earlier flagged by the Financial Action Task Force (FATF).

The Philippines had been on the EU’s high-risk list since March 13, 2022.