Myanmar drafts strategy on anti-money laundering, anti-terrorism financing

Source: Xinhua| 2019-01-24 10:07:53|Editor: WX
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YANGON, Jan. 24 (Xinhua) -- Myanmar is drafting a national strategy on combating money laundering and terrorism financing, Myanmar News Agency reported on Thursday.

"The aim and objectives of the strategy should be practical and attainable so that we can reduce the risks outlined in the national risk assessment," Maj-Gen Aung Thu, deputy minister of home affairs and head of the draft committee, said on Wednesday.

He said suggestions and advice from relevant departments and organizations will be added to the national strategy and will require actual implementation to follow.

The draft national strategy will be forwarded to the government for approval.

Myanmar is stepping up drive for anti-money laundering and anti-terrorism financing as part of the work procedure of Asia-Pacific Group (APG) on Money Laundering.

Myanmar formed the Anti-Money Laundering Central Committee in August 2014, chaired by Minister of Home Affairs Lt-Gen Kyaw Swe, in a bid to effectively combat money laundering.

Tasked to formulate policies on anti-money laundering and combating financial support for terrorism, the central board is also cooperating with international and regional organizations and neighboring countries in fight against money laundering, exchanging information on financial intelligence relating to money laundering.