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Myanmar remains on FATF watch list

Publication Date : 15-07-2014

 

Myanmar is still on the list of countries with strategic deficiencies in anti-money laundering and combating the financing of terrorism (AML/CFT), according to a report from the Financial Action Task Force (FATF).

Along with Myanmar, Indonesia, Ecuador and Algeria remain on the same watch list while 10 other countries were removed from it.

The FATF is the global standard-setting body for anti-money laundering and combating the financing of terrorism.

It usually identifies countries that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system. This is to protect the system from money laundering and financing of terrorism and to encourage greater compliance with the AML/CFT standards..

 

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