Philippines exits EU high-risk list, boosts gaming sector outlook??
The European Parliament has approved a European Commission (EC) proposal to remove the Philippines from the European Union’s list of countries with a high risk of money laundering and terrorist financing.
This move follows the development in February 2025 when the Financial Action Task Force (FATF), the global anti-money laundering (AML) watchdog, removed the Philippines from its “grey list” of jurisdictions under increased monitoring. The European Commission followed suit in June, formally proposing to delist the country. On 9 July, the European Parliament voted in favour of the EC’s proposal, triggering the formal regulatory update.
“The regulation will enter into force upon its publication in the Official Journal of the European Union,” the Philippine Anti-Money Laundering Council (AMLC) said in a statement issued Friday. “This officially ends the Philippines’ designation as a high-risk country under EU financial regulations.”
According to the AMLC, this outcome affirms years of government work to strengthen its AML and counter-terrorist financing (CFT) regime.
Gaming sector sees gains in compliance cost relief
For iGaming operators and businesses tied to the digital entertainment sector, the development offers a tangible improvement in the cost and complexity of cross-border compliance. Jonas Diego, a gaming industry leader and investor, told SiGMA News that businesses have long felt the impact of the Philippines’ inclusion on the EU high-risk list.??
“That designation brought a number of challenges, including slower, more cumbersome cross-border banking and remittance processes; weaker investor confidence; and reputational damage that created unnecessary friction for businesses across sectors,” Diego said. With the delisting now confirmed, Diego believes locally licensed gaming firms are in a stronger position to reinvest and expand.
“Another immediate impact is reduced compliance costs for operators and related businesses,” he said. “Inclusion in the list had subjected companies to frequent due diligence and exhaustive reporting requirements, a pain point I experienced first-hand.”
“Now that these are easing,” Diego added, “companies can reallocate financial and human resources toward growth-driven efforts such as marketing, talent acquisition, and product development.”
Reputation and investor confidence to improve
“For the Philippines, the most obvious benefit is reputational.”
– Jonas Diego, gaming industry leader
For Diego and many in the industry, reputational improvement is just as important as regulatory easing. The change signals to the international business community that the Philippines is back in good standing.
“For the Philippines, the most obvious benefit is reputational,” Diego said. “I expect this will make us a much more attractive destination for investors.” He noted that the country’s previous grey-listing had discouraged some would-be partners, but that landscape is now shifting.
“Those who had previously held back may now be reconsidering, with some possibly going all in and others at least willing to give the country a serious second look,” he added.
The AMLC echoed this sentiment, stating that the move “highlights the country’s efforts to make its financial system more welcoming for foreign investors and easier for its citizens to use, especially overseas Filipinos.”
Banking access, remittances likely to improve
The delisting is also expected to improve access to international banking services for Philippine-based firms, including online gaming companies with European markets or partners. Diego said he anticipates smoother operations when dealing with European financial institutions.
“I’m also excited about fewer friction points when transacting with EU banks and payment processors,” he said. “This should streamline cross-border operations and help strengthen the Philippines’ position as a credible player in regulated gaming.”
The said it expects the change to lead some foreign banks to resume correspondent banking ties with the Philippines, which had become more cautious during the grey-listing period. It also said that remittances sent home by overseas Filipinosmany of whom use EU-based financial channelscould become “easier and more affordable” under the new status.?
