Achieving Recognition: Enhanced Anti-Money Laundering and Counter-Terrorism Efforts

Myanmar has achieved a higher ranking in the annual standardization by the Financial Action Task Force (FATF) and the Asia/Pacific Group (APG) on Money Laundering, in recognition of the country's efforts in anti-money laundering and combating the financing of terrorism (AML/CFT). Although the FATF listed Myanmar as a High-Risk Jurisdiction subject to a call for action in October 2022, significant improvements have been made through practical cooperation and adherence to FATF standards and APG recommendations.

Progress reports have been submitted to the Asia Pacific Joint Group (APJG) every four months, and Myanmar has actively participated in APJG meetings. As a result of these efforts, Myanmar has made substantial progress in complying with 25 of the suggested measures. The country aims to achieve more compliance with two remaining suggestions by 2024.