The second meeting of the Central Body on Anti-Money Laundering in progress yesterday, addressed by Union Minister Lt-Gen Tun Tun Naung.
The Central Body on Anti-Money Laundering held its second meeting yesterday.
Speaking at the meeting, State Security and Peace Commission Member Union Minister for Home Affairs Lt-Gen Tun Tun Naung, who is also the chairman of the central body, said that the FATF placed Myanmar on the Grey List starting from February 2020, and the country has made efforts to implement the 15 recommendations of the Action Plan. Moreover, the country submitted a progress report and attended the plenary meeting once every four months.
The relevant departments should cooperate to complete the remaining five recommendations out of 15 in the Action Plan, and the law enforcement agencies also need to work to uncover the assets owned by suspects and their associates by requesting and using information from the Financial Intelligence Unit (FIU) and relevant departments to identify potential money-laundering activities. When conducting investigations into such assets, it is also necessary to impose temporary restrictions, seizures, or confiscations, or to nationalize by requesting the information from domestic organizations and international partner entities.
He also urged the banking and financial organization and non-financial corporations also should watch the financial and transfers to uncover the drug cases, corruption and other suspected reports and submit a report to the FIU, and the relevant officials should supervise such activities.
He continued that the department concerned should make preparations for the needed resources to ensure the Mutual Evaluation (ME) in 2030, and the anti-money laundering inspection teams also need to follow the existing laws while examining the cases, and the officials from different levels need to supervise to ensure the responsibilities and prevent corruption.
He added that the National Strategy for Combatting Money Laundering and Terrorism Financing (2024-2028) was being conducted in five strategic fields starting 21 October 2024, and 47.2 per cent were implemented until the third quarter of 2025.
The attendees coordinated the discussion, and the Union minister concluded the meeting.
MNA/KTZH
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