ASEAN Beat | Economy | Southeast Asia

Myanmar Remains on FATF Blacklist Due to Money Laundering Concerns

The Paris-based group’s announcement came after a report which said that Japanese officials had lobbied for the country’s removal from its list of “high-risk jurisdictions.”

The world’s top financial crime watchdog will keep Myanmar on its blacklist, it announced on Friday, due to its failure to make enough progress in combating money laundering and terrorist financing.

In a statement issued on Friday, the Paris-based Financial Action Task Force (FATF) said that it had called for the continued “application of enhanced due diligence” on Myanmar by its members, in part due to ongoing cyber scam activities in the country.

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