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Anti-Money Laundering in Myanmar

AML Solution by Blue Stone

Jack Ahn

                  Anti-Money Laundering Solution

                  with Blue Stone Solution

                  “Smart automation with 360-degree and round the

                  clock surveillance to combat money laundering.”


                  How U.S. Cities Fight Money Laundering | Corporate Compliance Insights



                  As regulatory bodies across the globe enforce stricter regulations, banks and financial institutions are facing compliance challenges and are pursuing tighter risk control to minimize the vulnerabilities in their system.


                  [Central Bank of Myanmar]

                  The Central Bank of Myanmar plays an active role in implementing Myanmar’s national Anti-money laundering program to ensure that the financial system is not in any way compromised by criminal activities associated with money laundering. Therefore, the Central Bank of Myanmar has issued regulatory guidelines and instructions to enforce the AML and CFT:

                  1. Central Bank of Myanmar: Directive of the CDD Measure (15 November, 2019)

                  https://www.cbm.gov.mm/content/5262

                  2. Office of the President: Anti-Money Laundering Order (14 November, 2019)

                  https://www.president-office.gov.mm/en/?q=briefing-room/news/2019/11/15/id-9695

                  3. Insurance Regulatory Board: Directive on Customer Due Diligence (13 November, 2019)

                  https://www.mmtimes.com/business/16878-central-bank-issues-directive-on-customer-due-diligence.html

                  4. Directorate of Investment and Company Administration: Directive on Disclosure of Beneficial Ownership Information (15 November, 2019)

                  https://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/directive_engfinal_0.pdf


                  [What Blue Stone Can Offer >> Blue Stone’s AML Solution]

                  Blue Stone offers a powerful and proven AML Solution which is used by financial institutions of all sizes.  Our AML Solution is an integrated enterprise-wide AML risk management Solution and is trusted by 200+ clients across 43+ countries. Enabled with Artificial Intelligence (AI), Machine Learning (ML), Robotic Process Automation (RPA) technologies, the solution empowers financial firms to manage AML risks and compliance.

                  The solutions monitors transaction in real-time via automated process and delivers high performance in managing compliance and delivering real-time alerts, thus helping financial institutions to take a leap towards greater efficiency and effectiveness. The solution is compliant with all major AML regulations across the world.


                  Key Attributes

                  - Comprehensive detection of suspicious transactions in real-time
                  - Automated case creation for regulatory reporting
                  - Unified and Consistent Watchlist screening
                  - Scanning of adverse media report for customer risk assessment
                  - Scanning of SWIFT messages
                  - In-build facial and voice recognition and document verification for enhanced user authentication; and More

                  Please contact our sales representative for more information on Blue Stone’s AML Solution.