How to master the art of haggling | ABS-CBN

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How to master the art of haggling

How to master the art of haggling

MoneyMax.ph

 | 

Updated Oct 10, 2016 12:31 PM PHT

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MANILA - When haggling, the goal for you is to buy the item for the lowest amount. The goal for the seller is to make a sale. With the right negotiation, there can be a consensus for both of you.

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Philippines now out of dirty money ‘gray list’: SEC

Philippines now out of dirty money ‘gray list’: SEC

Rose Carmelle Lacuata,

ABS-CBN News

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MANILA — The Securities and Exchange Commission (SEC) said FRiday the Philippines has officially exited the gray list of the Financial Action Task Force (FATF).

The FATF made the announcement on the last day of the FATF Plenary on February 21, Friday in Paris, France.

“The FATF welcomes the Philippines’ significant progress in improving its AML/CFT regime. The Philippines strengthened the effectiveness of its AML/CFT regime to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in June 2021,” the global watchdog said in a statement.

SEC Chairperson Emilio Aquino, also the longest serving member of the Anti-Money Laundering Council (AMLC), highlighted the SEC’s role in this development.

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“When I became a member of the AMLC in 2018, the SEC stepped up and positioned itself at the forefront of our fight against money laundering and terrorist financing, recognizing the need for reforms to prevent the misuse of the corporate vehicle in illicit activities,” Aquino said.

The Philippines was included in the FATF grey list in June 2021 after the global watchdog found "strategic deficiencies” in how the country handles the entry and exit of suspected illegal funds.

The country was given until January 2023 to make the necessary reforms to exit the gray list. 

In January 2024, President Ferdinand Marcos Jr. made it a priority for the Philippines to exit the FATF gray list, noting that the deadline had already lapsed by a whole year.

In October 2024, the FATF said the Philippines has made significant strides to counter money laundering, terrorist financing and proliferation financing, and was on its way to exiting the gray list.

For Aquino, the Philippines’ exit from the FATF gray list will make it more attractive to businesses and investment.

“The SEC is committed to continuously upholding its adherence with the global standards of AML/CFT framework to uphold financial integrity, in line with our vision of a business sector considered among the best in Southeast Asia,” Aquino added.

- with reports from Katrina Domingo, Adrian Ayalin and Arthur Fuentes, ABS-CBN News

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