In a major development for the Philippines and the financial industry, REBAP Inc. (Real Estate Brokers Association of the Philippines) has played a crucial role in helping the country secure its removal from the Financial Action Task Force (FATF) Grey List. This achievement highlights the nation’s commitment to strengthening its anti-money laundering (AML) and counter-financing of terrorism (CFT) frameworks, further solidifying the Philippines’ standing in the global financial community.
The FATF Grey List: A Key Step Forward
The FATF is an international body that sets global standards for combating money laundering, terrorism financing, and other threats to the international financial system. Countries placed on the FATF Grey List are deemed to be under increased monitoring for deficiencies in their anti-money laundering and counter-terrorism financing practices. Being removed from the list is a significant milestone. It demonstrates a country’s sustained commitment to improving and enforcing AML/CFT measures, ensuring greater transparency and security within its financial systems. For the Philippines, this is not only a mark of progress but also an essential step in attracting more foreign investments, as international investors often avoid countries with deficiencies in their financial regulatory frameworks.
REBAP Inc.’s Role in the Success
REBAP Inc., an influential association representing real estate brokers across the Philippines, has long been a proponent of enhancing the country’s AML/CFT efforts. Through collaboration with both government bodies and private sectors, REBAP played a key role in educating and encouraging its members to comply with regulatory standards and best practices in real estate transactions.
Since 2023, REBAP. Inc. has been coordinating with the Anti-Money Laundering Council (AMLC) of the Philippines. In 2024, REBAP was initially represented by CRB Carla Calleja, CRB Elvis Saligumba and CRB Mary Karen Madlangbayan. During the interview and exam of the council last February 22, 2025, CRB Maria Charito Laarni Indonto joined the group as a representative.
For three (3) administrations of REBAP’s leadership, AMLC closely coordinates with the association in resolving issues and concerns of the council regarding money launderers in the country.
By aligning with government initiatives and working closely with other industry stakeholders, REBAP helped ensure that real estate brokers and businesses in the sector adhered to AML and CFT regulations. Their commitment to fostering industry-wide compliance and transparency was instrumental in the Philippines’ efforts to meet FATF requirements.
A Landmark Achievement for the Country
This achievement comes after years of concerted effort by the Philippine government, businesses, and organizations like REBAP Inc. to address the FATF’s concerns regarding the country’s anti-money laundering and counter-financing of terrorism policies. It marks a new chapter in the Philippines’ financial landscape, one that offers more stability and security for both domestic and international investors.
Moreover, the removal from the FATF Grey List will open doors for enhanced economic cooperation, increased foreign investments, and improved trade relations with other nations. This milestone is not just an accomplishment for the country but a testament to the collaborative efforts of both the public and private sectors in strengthening the Philippines’ financial integrity.
Looking Ahead
As the Philippines moves forward, it must continue to uphold the highest standards of financial integrity. While the removal from the FATF Grey List is a significant achievement, the journey toward sustained compliance and vigilance in the AML/CFT space is ongoing. REBAP Inc. and other key stakeholders must continue their work to ensure the nation’s financial system remains robust, transparent, and secure.
In conclusion, the removal of the Philippines from the FATF Grey List represents a major milestone in the country’s efforts to combat money laundering and terrorism financing. The role played by REBAP Inc. in this achievement underscores the power of collaboration between industry leaders and the government. With this success, the Philippines has demonstrated its commitment to adhering to global financial standards and fostering a secure, transparent financial environment for the future.