Anti-Money Laundering : Central Body held its meeting in Nay Pyi Taw

The Central Body on Anti-Money Laundering held its meeting at the Myanmar Police Force Headquarters in Nay Pyi Taw on Friday. Central Body Chairman and Union Minister for Home Affairs Lt-Gen Tun Tun Naung attended the meeting and made a speech.

He highlighted Myanmar’s progress under the Grey List Action Plan of Financial Action Task Force (FATF), urging the relevant departments to complete the remaining five points of action plan. He urged the use of information from the Financial Intelligence Unit (FIU) and relevant departments to trace assets linked to suspects and detect potential money laundering.

He emphasized requesting data from domestic and international partners to strengthen asset freezing and confiscation during investigations. Banks, financial institutions, and non-financial businesses were instructed to monitor and report suspicious transactions related to high-risk crimes to the FIU, ensuring high-quality reporting and effective oversight by supervisory authorities.

He also called for measures to address the rising incidence of online fraud and money laundering connected to global and regional crises. He urged the relevant departments to prepare for the 2030 Mutual Evaluation, ensuring investigations follow legal procedures, are evidence-based and free from corruption.

To eradicate money laundering, the Union Minister urged sectoral cooperation, stronger private-sector partnerships, and diligent implementation of the National-Level Strategic Plan. He emphasized the successful completion of the FATF Action Plan and thorough preparations for the 2030 Mutual Evaluation, urging all responsible parties to treat these tasks as priorities and contribute their full abilities.

This was followed by sector-wise discussions on activities and tasks to be carried out by the central body members and attendees.