The Central Bank of Myanmar (CBM) released a notice on 24 May 2024 that legal action will be taken against those who involved in the unlicensed illegal digital currency trading and hundi activities and manipulated foreign currency under the provisions stated in the Money Laundering Law and Financial Institutions Law. After releasing a statement, it freezes bank accounts and opens files against those who fail to follow the notice.
From 24 May to date, 39 persons who involved in the manipulation of foreign currency and hundi activities were identified and investigated. Therefore, the CBM temporarily froze their bank accounts and pay accounts opened at the banks and financial institutions. Moreover, law enforcement bodies keep investigation for those involved in the cases.
Currently, malicious media outlets and unscrupulous people who do not want State economic growth intentionally spread fake news on Facebook pages, including Yan Paing Soe and Dean Kyne, to affect the State’s economy and financial state. In this regard, on 4 June, the CBM urges the people not to believe and not to worry about the news spreading on social networks, and then people can get banking services regularly.
Source: MWD (5-6-2024)
- From 24 May to date, 39 persons who involved in the manipulation of foreign currency and hundi activities were identified and investigated.
- The CBM urges the people not to believe and not to worry about the news spreading on social networks, and then people can get banking services regularly.