AMLAC-deputized PDEA financial probers’ efforts cited in Phl exit from FATF greylist

Art Dumlao — March 10, 2025

AMLAC-deputized PDEA financial probers’ efforts cited in Phl exit from FATF greylist

BAGUIO CITY (March 5, 2025) – Philippine Drug Enforcement Agency (PDEA) chief, Undersecretary Isagani R. Nerez commended the efforts of the agency’s financial investigators in improving the effectiveness of the country’s financial intelligence and anti-money laundering probe.

 

Lauding the crucial role of PDEA Deputized Anti-Money Laundering Council Financial Investigators or DAFIs, Nerez emphasized, “PDEA DAFIs served as force multipliers in the national development of financial intelligence, investigation, prosecution and confiscation in relation to money laundering and its predicate offenses.”

 

Tasked to investigate monetary instruments such as bank accounts and insurance policies believed to be used to launder drug money, the DAFIs’ presence has provided impetus to the country’s anti-drug money laundering investigations previously done by a limited number of investigators from the Anti-Money Laundering Council (AMLC), Nerez stressed.

 

The country has succeeded in addressing the strategic deficiencies, particularly in countering money laundering, enroute to the country’s exit from the Financial Action Task Force (FATF) grey list.

 

“With financial crimes constantly evolving, PDEA DAFIs continue to strengthen their financial investigative capabilities to detect and repress money laundering activities, and help ensure that the country stays out of the FATF grey list”, Nerez added.

 

The PDEA chief added that the DAFIs are due for recognition under PDEA’s Program on Awards and Incentives for Service Excellence, or PRAISE.  “The PDEA PRAISE Committee has already identified the deserving DAFIs and other personnel involved. Awards and commendations are to be given during the upcoming Monday Flag-raising ceremony”, Nerez said.

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