Following their October Plenary, the Financial Action Task Force (FATF) has added Myanmar to the ‘blacklist’, alongside Iran and North Korea. FATF deemed a ‘continued lack of progress’ by the country to address the majority of its action plan items, a year beyond the deadline.

Firms should ensure they conduct appropriate Due Diligence when dealing with a nexus to Myanmar.

https://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/documents/increased-monitoring-october-2022.html

https://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/documents/call-for-action-october-2022.html