The Aurora Pacific Economic Zone and Freeport Authority (APECO) has been recognized by the Anti-Money Laundering Council (AMLC) for its vital role in helping the Philippines exit the Financial Action Task Force (FATF) Grey List.
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. presented the award to APECO President and CEO Gil G. Taway IV during a ceremony at the BSP Assembly Hall on October 23, 2025. The recognition is part of AMLC’s acknowledgment of partner agencies whose cooperation and reforms have strengthened the country’s anti-money laundering and counter-terrorism financing (AML/CTF) framework.
Under the leadership of Taway, who assumed office in October 2023, APECO has implemented sweeping transparency and accountability measures, aligning its operations with international financial compliance standards. As part of the National Anti-Money Laundering and Counter-Terrorism Financing Coordinating Committee (NACC), APECO fulfilled its commitments under Immediate Outcome 3, which assesses the effectiveness of supervision and preventive measures across sectors.
“The recognition from the AMLC reinforces our commitment to transparency, efficiency, and accountability,” Taway said. “APECO’s transformation is driven by our goal to be a trusted hub for industrial and commercial growth while uplifting the communities we serve.”
The award highlights APECO’s redemption-to-resurgence journey, signaling to investors and potential locators that the ecozone’s growth is anchored in integrity and adherence to international standards.
Among the most significant reforms under Taway’s administration was the decisive shift away from online gaming and gambling. The Philippine Offshore Gaming Operator (POGO) previously based inside the Casiguran ecozone ceased operations in the latter half of 2024, in line with APECO’s strategic realignment toward national security, energy security, food security, tourism, and community development.
The administration’s focus on sustainable and inclusive growth, particularly its support for indigenous peoples (IPs) and marginalized groups, underscores APECO’s vision of economic transformation rooted in integrity and social responsibility.
The Philippines’ removal from the FATF Grey List in 2025 marks a significant milestone in restoring investor confidence and strengthening the country’s financial reputation. The FATF had placed the Philippines under increased monitoring in 2021 due to deficiencies in its AML/CTF regime. Through coordinated reforms by various government agencies—including APECO—the country achieved full compliance and was officially delisted this year.
APECO expressed its gratitude to the AMLC for the recognition and reaffirmed its commitment to upholding global standards of transparency and accountability as it continues to develop the Aurora Pacific Economic Zone into a gateway to the Pacific founded on ethical governance and inclusive progress.