ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Myanmar Crisis

Myanmar citizens would bear brunt of potential FATF blacklisting

Move would squeeze foreign aid; experts warn of 'detrimental consequences'

Myanmar migrant workers in Thailand demonstrate against the military regime in May. If blacklisted by the FATF, Myanmar citizens around the world would have more difficulty accessing financial services.   © Reuters

YANGON/TAIPEI -- Moves to put Myanmar alongside North Korea and Iran on an international anti-money laundering blacklist would have a damaging impact on foreign aid and the broader economy, which in turn would affect the lives of ordinary Burmese, experts and corporate executives warn.

A blacklisting by the intergovernmental anti-money laundering watchdog Financial Action Task Force would likely put Myanmar outside the risk appetite of many banks, further cutting off access to the formal international financial system, said Justyna Gudzowska, director of Illicit Finance Policy at The Sentry, an investigative and policy organization that follows dirty money.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more