Working Group on Anti-Money Laundering and Counter-Financing of Terrorism meets in Nay Pyi Taw

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 stressed 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.
Then, the working group vice-chair, secretary and members reported on the measures for seeking standards on recommendations and ongoing work plans.
The Working Group on Anti-Money Laundering and Counter-Financing of Terrorism has been making efforts for the country to be removed from the list of High-Risk Jurisdictions subject to a Call for Action of FATF since November 2022. It also holds weekly meetings and urges the departments concerned to complete the operations in time. —MNA/KTZH