Kyaw Win Thein, the head of Myanmar’s Financial Intelligence Unit who is attending the FATF meeting in Paris this week, told Reuters that Myanmar “is not on the gray list so far”. It also has “significant” problems with illegal jade mining, arms trafficking and logging, among other offences, an FATF report in 2018 found. “Myanmar faces extremely high levels of proceeds-generating crimes” and was “exposed to a large number of very significant money laundering threats”, the report said. Twelve countries are on the FATF’s gray list. Myanmar’s expected inclusion on the list follows its first evaluation by the FATF since the watchdog changed its assessment methodology in 2012.

Source: bd News24 February 19, 2020 09:56 UTC