NAY PYI TAW, June 28 (Xinhua) -- A senior Myanmar Home Ministry official on Friday stressed the need to strictly supervise the implementation of the national strategy of combating money laundering and terrorism financing.
Economic undertakings can be carried out safely under the strategy if collaborating with relevant sectors to bring about the promotion of foreign investment, Deputy Home Minister Maj-Gen Aung Thu told a meeting in the capital.
As a member of Asia-Pacific Group (APG) on anti-money laundering, Myanmar has stepped up drive for anti-money laundering and anti-terrorism financing as part of the work procedure and has attained the stage of largely compliance in 2017 from partially compliance previously in mutual evaluation process in member countries, said Aung Thu, who is also chairman of the Central Committee for Combating Money Laundering and Terrorism Financing.
The Strategy Drafting Committee is led by Aung Thu and its members include the deputy minister of planning and finance, the deputy attorney-general and the deputy governor of the central bank of Myanmar as well as the a member of the Anti-Corruption Commission.
The strategy was devised with the technical assistance of the International Monetary Fund (IMF) for effective prevention and exposure of money laundering and terrorism financing.
Probes were launched into 93 cases related with money laundering in Myanmar, of which 56 cases were completed, while 15 cases have been under investigation during the incumbent government tenure.
Myanmar formed the Anti-Money Laundering Central Committee in August 2014, chaired by Home Minister Lt. Gen. Kyaw Swe, in a bid to effectively combat money laundering.
