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Myanmar Crisis

Myanmar blacklisted by FATF for terrorism and crime finance

Analysts see designation as another 'damning indictment' of military regime

With FATF blacklisting, banks are expected to impose additional due diligence requirements for transactions involving Myanmar.   © AP

YANGON/TAIPEI -- In another setback to the Myanmar military's minimal credibility, an international watchdog has placed Myanmar on its blacklist for terrorism financing alongside Iran and North Korea.

The Financial Action Task Force was set up in 1989 by the Group of Seven advanced economies, initially to counter money laundering. It has since expanded its mandate to countering terrorist financing and the proliferation of weapons of mass destruction.

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