As the Anti-Money Laundering Council (AMLC) approaches its 25th anniversary next year, the Aurora Pacific Economic Zone and Freeport Authority (APECO), under President and CEO Gil G. Taway IV, was recognized for its efforts that helped the Philippines exit the Financial Action Task Force (FATF) grey list.
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. gave the award to PCEO Taway in a ceremony held at the BSP Assembly Hall on October 23, 2025. The recognition is part of AMLC’s acknowledgment of partner agencies whose cooperation and reforms strengthened the country’s anti-money laundering and counter-terrorism financing (AML/CTF) framework.
The award from AMLC’s is a testament to the redemption-to-resurgence journey under the leadership of PCEO Taway, serving as a strong signal topotential locators on the developments in APECO, which is rooted in transparency and adherence to internationally recognized standards.
Under PCEO Taway’s administration that started in October 2023, APECO has implemented significant transparency and accountability measures, aligning its operations with international financial compliance standards.
The agency, as part of the National Anti-Money Laundering and Counter-Terrorism Financing Coordinating Committee (NACC), fulfilled its commitments under Immediate Outcome 3, which assesses the effectiveness of supervision and preventive measures across sectors.
The most notable is the management’s policy shift away from online gaming and gambling to its strategic direction of national security, energy security, food security, and tourism, as well as community development.
The administration’s focus on sustainable development and inclusive growth, particularly in supporting indigenous peoples (IPs) and marginalized groups, underscores its vision of economic transformation rooted in integrity and social responsibility.
“This recognition from the AMLC reinforces our commitment to transparency, efficiency, and accountability,” PCEO Taway said.
“APECO’s transformation is driven by our goal to be a trusted hub for industrial and commercial growth while ensuring the upliftment of the communities we serve.”
The Philippines’ exit from the FATF Grey List in 2025 marks a major milestone in restoring investor confidence and strengthening the country’s financial integrity.
The FATF had placed the Philippines under increased monitoring in 2021 for strategic deficiencies in its AML/CTF regime. Following a series of legislative, regulatory, and institutional reforms, including active participation by agencies like APECO, the FATF confirmed the country’s full compliance and removal from the list.
To recall, a Philippine offshore gaming operator (POGO) was operating inside the Casiguran-based ecozone until it ceased its operation in the second half of 2024, aligning with PCEO Taway’s hardline stance against POGO.
APECO extends its gratitude to the AMLC for the recognition and reaffirms its commitment to uphold global standards of transparency and accountability as it continues to develop the ecozone as a gateway to the Pacific anchored on ethical governance and inclusive progress.
