THE Central Bank of Myanmar (CBM) has arranged to reimburse money lost in recent attacks on some banks upon submission of evidence, according to Deputy-Governor Dr Lin Aung in an interview with local media.

Arrangements have been made to facilitate withdrawals when customers submit supporting documents for the money lost in attacks on certain banks. Account verification can be handled at any branch for such withdrawals, as all banks have the account data of affected customers.

Furthermore, if a branch of any bank has to cease services for various reasons, it will not result in the freezing of deposits. Customers can still withdraw money at any branch of the bank nationwide based on the type of their deposits.

The Central Bank of Myanmar, Bureau of Special Investigation, and Financial Intelligence Unit are on high alert, closely monitoring recent cash withdrawals at banks. Details for cash withdrawals exceeding K100 million, as specified by the Anti-Money Laundering Central Body, are reported to the Financial Intelligence Unit.

If speculative activities are identified in any withdrawal, individuals involved will face severe punishment according to the law. Additionally, the Central Bank of Myanmar is collaborating with other law enforcement organizations to reveal instigators spreading fake news and propaganda that misleads the public to withdraw money from banks, intending to impose deterrent penalties in line with legal provisions.

ASH/ZN

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