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Myanmar Put on FATF’s ‘Black List’ Over Money Laundering Risks

  • Nation joins North Korea, Iran in FATF’s high-risk list
  • Entities, individuals from Myanmar to face tight measures

The Financial Action Task Force added Myanmar to a group of high-risk countries, known as the ‘black list,’ citing its failure to make enough progress in addressing illicit financial flows.

The failures “were first identified in a report in September 2018; more than four years later many of those issues remain,” said T. Raja Kumar, the president of the FATF, following the decision. “I urge the authorities of Myanmar to swiftly complete their targeted action plan to address the strategic deficiencies identified in the country.”