The State Administration Council (SAC) has announced the closure of bank accounts and mobile banking accounts opened with fraudulent citizenship scrutiny cards (CSCs). In a bid to thwart online scams, the closure of accounts associated with fake CSCs is executed through a four-fold approach involving information access and verification procedures.
The four critical factors encompass adherence to the supervisory guidelines of the Mobile Financial Services Supervisory Committee by mobile banking service providers. Additionally, prosecuting entities must take action against accounts discovered to be linked with counterfeit citizenship scrutiny cards. Suspicious financial transactions are to be reported to the Financial Intelligence Unit (FIU), and a list of bank accounts and mobile bank accounts opened with fake CSCs is to be submitted to the Central Bank of Myanmar for closure by relevant legal entities.
The SAC emphasizes that the Central Bank of Myanmar is tasked with verifying and closing the submitted fake accounts, with account balances credited to non-redeemable accounts.
Furthermore, the Ministry of Transport and Communications holds responsibility for phone SIM cards registered with fake citizenship scrutiny cards, ensuring compliance with registration rules outlined in the gazette. — TWA/ TRKM
