Money Laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening Terrorist Networks and Criminal Organizations. The links between Money Laundering, Organized Crime, Drug Trafficking and Terrorism pose a risk to Financial Institutions globally and to Regional Peace and Stability.
 

Progress on Implementation of AML/CFT.

-Abiding the existing laws and regulations, and the directives issued by the Central Bank of Myanmar. 
-Committed to strictly follow the rules and regulations issued from time to time by the Central Bank of Myanmar and the directives / instructions issued by the Financial Intelligence Unit (FIU)
-Formation of Sub-committee
-Collaborative activities in the implementation of the National Strategic Area (3) of AML/ CFT
-Reporting to and complying Directives/ Instructions of the Financial Intelligence Unit (FIU)
-Organizing and Conducting AML/CFT awareness training
-Knowledge sharing on Proliferation
-Member Banks’ Cooperation
 

Since the Prudential/ AML-CFT/ Fraud/ Risk Committee, has been a sub-committee of MBA and is composed of compliance officers from the member banks, and also promoting compliance culture within the MBA member banks.

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