Since Myanmar is added to the Financial Action Task Force (FATF)’s list of High-risk Jurisdictions subject to call for Action on 21 October 2022, Myanmar is trying its best to delist from that list as soon as possible. The Governor of the Central Bank of Myanmar is leading the Working Group on AML/CFT formed by State Administration Council by the Order No.(190/2022) dated October 26, 2022.
Working Group on Anti-Money Laundering and Counter-Financing of Terrorism Meeting
A meeting of the Working Group on Anti-Money Laundering and Counter-Financing of Terrorism was held at the Central Bank of Myanmar in Nay Pyi Taw on 11 January.
During the meeting, Working Group Chairperson Central Bank of Myanmar Governor Daw Than Than Swe instructed the need to conduct measures to ask for standards on recommendations in the implementation of technologies to Asia-Pacific Anti-Money Laundering and to carry out further directives in time, report on the improvements in understanding of money laundering risk in major sectors, demonstrate the implementation of the regulations related to hundi providers including registration and supervision, accelerate the information exchange with international partner organizations, improve the financial sector surveillance, conduct formal and informal ways in international cooperation for inspections on anti-money laundering, conduct awareness-raising campaigns to inform reporting entities of their obligations related to PF TFS and to make efforts in seeking standards before 1 February.
Please click here to read more on activities of the Central Bank of Myanmar and Working Group.