FATF removes Philippines from global money laundering 'grey' list, adds Nepal and Laos

The global financial crime watchdog Financial Action Task Force (FATF) removed the Philippines from its 'grey' list of countries that are not doing enough to combat money laundering and terror finance.

The Philippine exit from the grey list was announced on February 22 after FATF's plenary meetings. Nepal and Laos are the latest countries to be added to the 'grey list.'

Video courtesy of FATF.