Myanmar expanding effort to curb cross-border money laundering

Myanmar is preparing to sign memoranda of understanding with Japan and the United Kingdom to exchange information on transnational money laundering, as the country steps up efforts to contain the crime at home and cleanse its international image, police said.

Colonel Kyaw Thein Win, deputy chief of the newly formed financial investigation unit, said such links would help prevent dirty money from flowing in and out of the country.

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Experts move against money laundering

The government has formed a committee to combat money laundering in the country, aiming to get off a list of the world’s worst offenders.

Experts from 15 different institutions including government ministries as well as the Central Bank and Supreme Court were named to the Anti-Money Laundering Central Board last week.

The board’s joint secretary U Soe Myaing said Myanmar longs to be removed from the list of countries with a bad reputation in money laundering.

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