Photo Release

Grey List Threat: Senate Minority Leader Franklin Drilon points at the regular threats issued by the Financial Action Task Force to the Philippines on the issue of compliance with anti-money laundering regulations during the virtual hearing of the Committee on Banks, Financial Institutions, and Currencies, Wednesday, October 28, 2020. Drilon, who was Senate President when Republic Act No. 9160 or the anti-money laundering law was passed, underscored that the threat of being in the grey list carries the threat of making remittances of overseas Filipino workers more difficult. “We have constantly been threatened with sanctions and we have constantly complied with these advises. My question is, what else can we do? Why do we regularly receive these things that need to be done so that we can be taken off the grey list? In other words, do we see the light at the end of the tunnel when we are completely free from these regular threats?” Drilon said. (Screen grab/ Senate PRIB)