CBM Governor Attends Asia Pacific Joint Group – APJG’s Plenary Meeting on the Progress of Myanmar’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)

The Asia Pacific Joint Group – APJG’s plenary meeting and pre-meetings on the progress of Myanmar’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) held in Hong Kong of the People’s Republic of China from 3 to 5 September 2024. Myanmar delegation led by Central Bank of Myanmar Governor Daw Than Than Swe, participated in the discussions. The points discussed are as follows:

• The status in which Myanmar is finding possible solutions after being aware of the risks of money laundering associated with high-risk crimes, measures taken to obtain legal business licenses in order to reduce Hyundais conducting illegal remittance and measures taken to identify and take action against those who are operating illegally without a license in cooperation with law enforcement organizations and the central banks of relevant countries.
• Regarding the effective implementation of financial sanctions aimed at preventing the funding of weapons that cause mass casualties, Myanmar expects to revise section 6(d) and 53 of its counter-terrorism law by the end of September 2024, and matters were discussed to enhance Myanmar's ratings on its performance.

At the Asia Pacific Joint Group – APJG’s plenary meeting, co-chairs from the Asia Pacific Joint Group – APJG, representatives from the Financial Action Task Force (FATF) and the Asia Pacific Group on Money Laundering (APG),  Evaluators from APJG attended and participated in the discussion, it is reported.

Source: GNLM (7-9-2024)

• Myanmar delegation discussed the status in which Myanmar is finding possible solutions after being aware of the risks of money laundering associated with high-risk crimes, measures taken to obtain legal business licenses in order to reduce Hyundais conducting illegal remittance and measures taken to identify and take action against those who are operating illegally without a license in cooperation with law enforcement organizations and the central banks of relevant countries.
• Regarding the effective implementation of financial sanctions aimed at preventing the funding of weapons that cause mass casualties, Myanmar expects to revise section 6(d) and 53 of its counter-terrorism law by the end of September 2024.