APGML’s follow-up report finds Myanmar has improved BO and trust rules but still falls short on key AML/CFT areas, including supervision, asset recovery, and tackling cross-border ML/TF networks

Myanmar’s limited progress results in two upgraded ratings—R.7 improves after new requirements to collect and verify beneficial-ownership information for legal persons, and R.25 improves following clearer obligations for trustees, nominee shareholders and company service providers—yet these reforms are narrow and largely technical. The jurisdiction nonetheless continues to exhibit extensive structural weaknesses, including minimal risk-based supervision of high-risk sectors, poor utilisation of financial intelligence…