Myanmar faces blacklisting risk by global financial crime watchdog

FATF's designation could further dent the regime's economic credentials

Riot police guard a bank in Yangon. Myanmar's economy has been hit hard by Western sanctions over the military takeover. © AP

THOMPSON CHAU and DOMINIC OO, Contributing writers

September 7, 2022 12:00 JST

YANGON/TAIPEI -- Myanmar is likely to be blacklisted by a global finance watchdog for failing to head off money laundering and terrorist financing, in a critical blow to the military regime's economic credentials.

Members of the Financial Action Task Force, an intergovernmental body, are expected to approve the decision during discussions in Paris next month, according to four Western and Asian government officials briefed on the matter.