Myanmar Blacklisted By The FATF

On October 21, 2022, the Financial Action Task Force (FATF) added Myanmar to the list of high-risk jurisdictions having significant deficiencies to counter money laundering, terrorist financing, and financing of proliferation.

The FATF is an international financial watchdog that aims to impede global money laundering and terrorist financing. It is a policymaking body that monitors implementation of FATF Recommendations and FATF Standards and is not binding as a supervisory authority for financial institutions.

Myanmar will remain on the list of countries subject to a call for action until the country has implemented an action plan that:

• demonstrates an improved understanding of money laundering risks in key areas;