News Releases
11/05/2003 USA PATRIOT Act Monitor News Release: FATF Calls
for New Measures to Myanmar
The Financial Action Task Force announced on Monday that it was calling on members
to apply counter-measures to Myanmar beyond those currently in place. The agency
indicated that since Myanmar was identified as a non-cooperative country or
territory (NCCT), it has not addressed major deficiencies in its anti-money
laundering regime and, in particular, "has failed to establish a framework
to engage in effective international cooperation in the fight against money
laundering." The FATF release also stated that Myanmar's AML laws lacked
implementing regulations to make them enforceable. The situation in Myanmar
will be reviewed at the FATF Plenary Session taking place February 25-27, 2004.
The news release is available on the FATF website at http://www1.oecd.org/fatf/pdf/PR-20031103_en.PDF.
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