Myanmar toughens stance against money laundering, terror financing

THE FINANCIAL Investigation Unit (FIU) is stepping up its awareness-raising activities to combat money laundering and terrorist financing in Myanmar. The move is aimed at supporting the new government’s vow to tackle corruption and maintain the country’s growth momentum. Pol Colonel Kyaw Win Thein, deputy chief of the FIU and head of the anti-financial crime […]

Real estate sector accounts for half of total money inflows

Well over half of all money flowing into the country is being invested in the real estate sector, according to Aye Lwin, joint-secretary of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). The joint-secretary revealed this during talks between police in the Financial Investigation Unit and UMFCCI members on the anti-money […]

People who become rich in a short time will be investigated: FIU

People who become very wealthy in a short time will be investigated by the Financial Intelligence Unit (FIU) to find out if they are involved in secret businesses and what they are doing, a top official said during a seminar on fighting money laundering in Yangon on Saturday. Police Colonel Kyaw Win Thein, deputy chief […]