Myanmar toughens stance against money laundering, terror financing

THE FINANCIAL Investigation Unit (FIU) is stepping up its awareness-raising activities to combat money laundering and terrorist financing in Myanmar.
The move is aimed at supporting the new government’s vow to tackle corruption and maintain the country’s growth momentum.

Pol Colonel Kyaw Win Thein, deputy chief of the FIU and head of the anti-financial crime division, said last week that public cooperation plays a pivotal role in combating money laundering.

Reporting by stakeholders including banks, financial institutions, businessmen, brokers and the public will help FIU arrest “real” criminals.

“We would like to cooperate more with INGOs [international non-governmental organisations] and NGOs focusing on AML/CFT [the anti-money laundering and countering financing of terrorism act].
“We would like to know the findings from their surveys and field research. We can also share some of our information on suspicious activities,” he said.


Source: Eleven Myanmar

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