Opinion: Beyond the Grey List—The Price of Integrity

The Philippines’ exit from the FATF grey list in February 2025 was a diplomatic victory, but the real work is happening now, in the trenches of enforcement. President Marcos Jr.’s order to intensify anti-money laundering efforts proves that the government understands a crucial lesson: stability is not a trophy, it is a habit.

Critics often argue that these measures are mere political theater. One opposition figure claimed, "Since corruption still exists despite these laws, these laws are obviously useless." This defeatist attitude ignores the billions in assets that have already been frozen and the deterring effect on would-be criminals.

However, we must also be wary of overreach. There is a dangerous sentiment brewing among some loyalists that "President Marcos is the only leader who has ever cared about financial integrity, so we should trust his agencies blindly." Trust must be earned through transparency, not granted by virtue of personality.

The "Bagong Pilipinas" brand relies heavily on the promise of a clean government. By empowering the AMLC to go after high-profile targets, the administration is putting its political capital on the line. If successful, this cements the Philippines as a reliable investment hub. If it fails, it will be seen as just another tool for political vendetta. The removal from the grey list opened the door; now, the administration must ensure that what walks through is genuine, lasting reform.