The Aurora Pacific Economic Zone and Freeport Authority (APECO) was honored by the Anti-Money Laundering Council (AMLC) for its contributions to the Philippines’ removal from the Financial Action Task Force (FATF) grey list.
Bangko Sentral ng Pilipinas 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 25th-anniversary celebration, acknowledging agencies that strengthened the country’s anti-money laundering and counter-terrorism financing efforts.
Under Taway’s leadership since October 2023, APECO has implemented transparency and accountability measures aligned with international financial standards. The agency also fulfilled commitments under the National Anti-Money Laundering and Counter-Terrorism Financing Coordinating Committee, including supervisory and preventive measures assessed under Immediate Outcome 3.
Notably, APECO shifted its focus away from online gaming and gambling to areas such as national security, energy, food security, tourism, and community development. The ecozone has also emphasized inclusive growth, particularly supporting indigenous peoples and marginalized communities.
“This recognition reinforces our commitment to transparency, efficiency, and accountability,” Taway said. “APECO’s transformation aims to be a trusted hub for industrial and commercial growth while uplifting local communities.”
The Philippines had been placed on the FATF grey list in 2021 for weaknesses in its anti-money laundering framework. Through legislative, regulatory, and institutional reforms — including APECO’s active participation — the country achieved full compliance in 2025, restoring investor confidence.
APECO expressed gratitude to the AMLC and reaffirmed its commitment to uphold global standards as it continues developing the ecozone as a Pacific gateway grounded in ethical governance and inclusive progress.
