The Action Task Force to prevent and take action against fraud of the Central Bank of Myanmar organized a workshop on combatting financial fraud and anti-money laundering at the Novotel Hotel in Yangon yesterday.

The workshop was organized into three sessions, and Central Bank of Myanmar Governor Daw Than Than Swe delivered a speech online, highlighting online scams, public awareness regarding the laundering and financing of terrorism, drafting of strategies by banking and financial institutions, information exchange with the stakeholders, and intention of holding the workshop to find the solution for AML/CFT.

She also discussed the activities of the CBM to strengthen AML/CFT-related rules and regulations to prevent banks and financial institutions from being used as intermediaries in online financial fraud, and the implementation of the AML/CFT Compliance Framework for risk-based Fraud Detection.

In the second session, Deputy-Governor of CBM Dr Lin Aung explained the activities of the task forces, and the representatives of Ayeyawady Farmers Development Bank, Yoma Bank, KBZ Bank, AYA Bank PCL and UAB Bank coordinated the discussion and replied to the questions raised by the guests.

In the third session, U Myat Min Htin Kyaw of AYA Bank PCL discussed the role of AI in online fraud and anti-money laundering and Director-General Daw Khine Shwe Wah of CBM the online fraud and anti-money laundering activities.

MNA/KTZH

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