President Ferdinand R. Marcos Jr. has issued Administrative Order No. 46, creating the Philippine Working Group for the Asia/Pacific Group’s Global Fifth Round of Mutual Evaluations (PWG-ME). The newly formed body is tasked with preparing the country for the Financial Action Task Force’s (FATF) 2027 mutual evaluation to ensure the Philippines remains off the international watchdog’s Grey List.
The PWG-ME will oversee preparations for the Asia/Pacific Group on Money Laundering’s (APG) assessment, evaluating the country’s anti-money laundering, counter-terrorist financing and counter-proliferation financing measures. The creation of the inter-agency group was recommended by the National Anti-Money Laundering/Counter-Terrorism Financing/Counter-Proliferation Financing Coordinating Committee (NACC) to bolster inter-agency coordination ahead of the evaluation.
Under AO 46, signed on July 30 and published on Aug. 5, the Office of the President will chair the PWG-ME, with the Bangko Sentral ng Pilipinas and the Department of Justice serving as co-lead agencies. Member agencies span across various government departments, regulatory bodies and law enforcement entities, including the Anti-Money Laundering Council, Bureau of Customs, Philippine National Police and the Securities and Exchange Commission.
The working group is responsible for coordinating official data submissions and ensuring full agency participation during APG on-site inspections. Furthermore, specialized sub-working groups and a “Philippine Assessors Pool,” composed of personnel trained in FATF methodology, will be established to conduct technical self-assessments and draft compliance reports covering risk assessments, financial intelligence and asset recovery.
The Philippines was previously removed from the FATF Grey List in February 2025 after demonstrating sustained progress in combating financial crimes. Funding for the PWG-ME’s operations will be drawn from the existing budgets of participating agencies and corporate operating funds of involved government-owned entities, with the NACC supervising all evaluation-related activities.