Featured Myanmar

Myanmar put on money-laundering watchlist

An international financial watchdog placed Myanmar on its money-laundering watchlist on Friday, urging the country at the heart of Asia’s illicit drug-producing “Golden Triangle” to boost its efforts to seize crime proceeds. The decision by the Financial Action Task Force (FATF) to include Myanmar on its “grey list”, which Reuters… Read More

Myanmar set to be placed on global money laundering watchlist

Myanmar is set to be placed on a watchlist by a global finance watchdog this week, amid concerns of money-laundering by transnational drug traffickers and weak regulation of its financial system, two sources familiar with deliberations said. A decision to put Myanmar on the “gray list” by the Paris-based Financial… Read More

Confusion over Myanmar’s new beneficial ownership rules

Myanmar’s new rules on making beneficial ownership more transparent are a move in the right direction but are inconsistent and lack clarity, according to governance and financial experts. The Directorate of Investment and Company Administration (DICA) directive on disclosure of beneficial ownership information came into force in January, aiming… Read More
11th December 2019
The Trump administration is imposing sanctions on at least 20 more people accused of human rights abuses, targeting government officials, businessmen and others in countries from Myanmar to Pakistan — but still avoiding penalizing some world leaders deemed critical partners. The new sanctions, announced Tuesday, are the latest in a… Read More
16th October 2019
He is Asia’s most-wanted man. He is protected by a guard of Thai kickboxers. He flies by private jet. And, police say, he once lost $66 million in a single night at a Macau casino. Tse Chi Lop, a Canadian national born in China, is suspected… Read More
27th September 2019
When a British-owned ship loaded cargo at a coal berth on the west coast of North Korea earlier this year, its operators hoped that the mission would remain low-key. The Lucky Star’s public tracking system was switched off and was not reactivated until six days later when it had sailed… Read More
6th August 2019
United Nations investigators urged world leaders on Monday to impose targeted financial sanctions on companies linked to the military in Myanmar, and said foreign firms doing business with them could be complicit in international crimes. A panel of human rights experts identified scores of companies tied to the army, which… Read More
17th July 2019
The United States on Tuesday announced sanctions on the Myanmar military’s Commander-in-Chief Min Aung Hlaing and other military leaders over extrajudicial killings of Rohingya Muslims, barring them from entry to the United States. The steps, which also covered Min Aung Hlaing’s deputy, Soe Win, and two other senior commanders and… Read More
30th April 2019
AP — The European Union is prolonging by a year an embargo on any arms that could be used in security crackdowns in Myanmar as well as sanctions against 14 top military and border officials. EU headquarters said Monday that based on an annual review the restrictive measures will be… Read More
16th April 2019
A UniCredit Group affiliate bank will plead guilty to US federal and state criminal violations and pay $1.3 billion to regulatory and prosecutorial agencies to resolve breaches of sanctions against Iran and other nations, officials disclosed. Under terms of a non-prosecution agreement with the US Justice Department, the group’s German… Read More
16th November 2017
By SCMP Washington’s top diplomat on Wednesday said he would not yet push for sanctions against Myanmar over the Rohingya refugee crisis, but he called for a independent investigation into “credible” allegations that soldiers were committing atrocities against the Muslim minority. Secretary of State Rex Tillerson was speaking after a… Read More
10th November 2017
Proposed sanctions against the Myanmar military should move quickly through the U.S. Congress due to strong bipartisan support, lawmakers told VOA. The Burma Sanctions Bill in the House of Representatives and a companion bill in the Senate would apply economic pressure on military generals with the aim of ending the… Read More
24th May 2017
One in five banks in the Asia Pacific expects tax evasion in 2017 to increase 100 to 500 per cent over last year’s levels according to a recent poll by data analytics firm Fico. A further one in five senior fraud managers surveyed said they expect the increase to be… Read More