Myanmar will remain on the Financial Action Task Force (FATF) high-risk jurisdictions list, commonly known as the “black list.” The organization concluded that the country continues to have strategic deficiencies in its anti-money laundering and countering the financing of terrorism (AML/CFT) framework.
The FATF stated that Myanmar has been subject to a call for action since October 2022 after failing to complete most items in its action plan within the required timeframe. As a result, financial institutions are expected to apply enhanced due diligence. They must also closely monitor transactions and business relationships connected to Myanmar.
Progress Made but Challenges Remain
According to the FATF, Myanmar has taken steps to strengthen its AML/CFT regime. These steps include increasing the use of financial intelligence in investigations, improving international cooperation on transnational money laundering cases, and expanding efforts to freeze, seize, and confiscate criminal assets.
However, the organization said Myanmar must urgently continue implementing its action plan. Outstanding requirements include improving operational analysis by its financial intelligence unit. Another requirement is ensuring money laundering investigations and prosecutions align with the country’s risk profile.
Concerns Over Online Fraud and Cyber Scams
The FATF also highlighted ongoing concerns regarding illicit finance linked to online fraud and cyber scam operations.
While Myanmar has established a national committee to combat online fraud and illegal gambling and has increased regional and international cooperation, the FATF noted that cyber scam activities remain widespread. These activities continue to pose significant financial crime risks.
The organization called on Myanmar to further address the financial threats associated with fraud and cybercrime. At the same time, Myanmar should consider the protection of trafficking victims exploited by criminal networks.
October 2026 Deadline
The FATF warned that if Myanmar fails to make sufficient progress by October 2026, it may consider imposing stronger countermeasures. Currently, Myanmar remains subject to enhanced due diligence requirements. Stricter measures are applied to countries such as Iran and North Korea.
The FATF also emphasized that compliance measures should not interfere with humanitarian aid, legitimate non-profit activities, remittances, or ongoing earthquake relief efforts.
Myanmar will remain on the FATF high-risk list until it fully completes its action plan and addresses all outstanding deficiencies.
