Myanmar downplays blacklisting by money laundering watchdog

BANGKOK (AP) — Myanmar’s central bank has promised improvements and warned against currency manipulation after an international watchdog put the military-controlled country on a terrorism and financial crimes blacklist. The Financial Action Task Force recommended that Myanmar be put on the list of countries requiring stronger due diligence. It cites deficiencies in Myanmar’s enforcement of precautions against money laundering and other financial crimes. The country had been removed from the blacklist in 2016 during a time of transition toward a civilian, democratic government. But army leaders took control in February 2021. In a statement, the central bank said Myanmar has an “action plan” for addressing the the task force’s review.