MYANMAR

FINANCIAL INTELLIGENCE UNIT

Myanmar Financial Intelligence Unit

About MFIU

1.  Myanmar Financial Intelligence Unit (MFIU) serves as the central agency to receive, request and analyze the reports submitted by reporting entities and other information related to money laundering, financing of terrorism and predicate offences and to disseminate the result of analysis, and related information to relevant persons or organizations or internal and external counterpart agencies upon request or spontaneously, if it suspects that it relates to money laundering, financing of terrorism, or any predicate offences.

2. Myanmar Financial Intelligence Unit (MFIU) was established since 16th January 2004 according to the Control of Money Laundering Rules (CMLR). MFIU was reformed by the Anti-Money Laundering Central Board (AMLCB) on 28th August 2014 due to the CMLL was reviewed amended an promulgated as the Anti-Money Laundering Law (AMLL) in 2014.

AMLCB issued order No. (3/2016) on 6th October 2016 by which Anti-Financial Crime Division has been designated as Financial Intelligence Unit. Therefore, Anti-Financial Crime Division is also Financial Intelligence Unit.

3. Our vision is to prevent interference by criminals in the executive, economic and social sectors of the State through money laundering or financing of terrorism.

4. Our missions are as follows;
(a). to implement anti-money laundering and countering the financing of terrorism in accord with the international conventions acceded by the State;
(b). to enable to take action against money laundering and predicate offences related to money laundering and to prevent subsequent offences;
(c). to prevent financing of terrorism and freeze the assets related to terrorist financing;
(d). to prevent proliferation financing of weapons of mass destructions and freeze the assets;
(e). to co-operate with relevant organizations and government agencies to fight against money laundering, financing of terrorism and predicate offences;
(f) . to co-operate with international organizations, regional organizations and neighboring States to fight against money laundering , financing of terrorism and         predicate offences;
5. In order to achieve our missions, we have the following objectives;
(a). to issue the reporting forms and methods which should be used by the reporting organizations, to receive and maintain the submitted reports in the database;
(b). to conduct operational analysis to identify specific targets, to follow the trail of particular activities or transactions, and to determine links between those         targets   and possible proceeds of crime, money laundering, predicate offences or terrorist financing;
(c). to conduct strategic analysis to identify money laundering and terrorist financing related trends and patterns;
(d). to disseminate, spontaneously and upon request, information and the results of analysis to relevant competent authorities;
(e). to access and obtain additional information from reporting entities, government agencies and other sources for analysis;
(f). to co-operate with domestic and international organizations for anti- money laundering , countering the financing of terrorism and combating predicate         offences;
(g). to provide awareness, training and assistance to reporting entities, competent authorities, law enforcement agencies and relevant government agencies;
6. Functions of Financial Intelligence Unit are as follow;
(a). receiving the suspicious transaction reports from reporting entities, other reports and information;
(b). maintaining the information received from the reporting entities and other relevant agencies in the FIU database system;
(c). analyzing the received information operationally and strategically; herein comparing to the information maintained in FIU, the information received from other         relevant agencies and public sources whether it relate to ML, TF and predicate offences or not, and identifying trends and patterns relating to ML/TF;
(d). disseminating, sharing results of analyze, if it has reasonable ground to suspect to ML/TF, to law enforcement agencies and requesting additional information         from relevant organizations;
(e). co-operating with local and international organizations to investigate the cases related with ML/TF;
(f).  exchanging the information, trends and typologies on ML/TF and co-operating with regional and international organizations and other countries;
(g). providing awareness, training and assistance to reporting entities, competent authorities, law enforcement agencies and relevant government agencies;

7. Myanmar Financial Intelligence Unit is the central agency to cooperate with local and international organizations in order to take action effectively on ML/TF and             predicate offences, and to prevent subsequent offences in accord with international conventions acceded by the State to prevent interference from criminals in            executive, economic and social sectors through money laundering or financing of terrorism.