THE Asia-Pacific Joint Group (AP JG) held a videoconference at the Central Bank of Myanmar yesterday afternoon to discuss Myanmar’s progress in assessing the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) process in Myanmar.

The meeting was attended by officials from the Financial Action Task Force-FATF and Asia Pacific Group-APG, representatives from the AP JG member countries, Deputy Governor of the Central Bank of Myanmar Daw Than Than Swe, representatives from the Anti- Corruption Commission, Ministry of Legal Affairs, Myanmar Police Force, Bureau of Special Investigation, Supreme Court of the Union, Financial Supervision Department, Internal Revenue Department, Customs Department, Department of Forest and the Financial Intelligence Unit.

The meeting was addressed by Co-Chair Mr Yogpal Singh of the AP JG and Deputy Governor Daw Than Than Swe. Discussions held on Myanmar’s AML/ CFT progress, including identifying risks of money laundering and holding coordination meetings with regulatory authorities to understand these risks; the establishment of a Money Laundering Risk Assessment Committee on Legal Persons; conducting office inspection and field inspections of non-financial businesses and professional occupations; licensing and supervision of foreign remittance services; taking action against illegal money transfer operators; implementation of the Financial Intelligence Unit; identifying and investigating money laundering crimes; managing money and property obtained from committing crimes.

The meeting also discussed the progress of awareness-raising activities on the fight against terrorism financing and funding for the spread of mass weapons, in line with UN Security Council resolutions.

MNA

# THE GLOBAL NEW LIGHT OF MYANMAR