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Sunday, 1st November 2026
Japan Pressures FATF to Remove Myanmar from International Financial Crime Blacklist
01 November 2026 00:11 AM
NEWS DESK
Japan is urging the global financial watchdog, the Financial Action Task Force (FATF), to remove Myanmar from its blacklist of countries associated with serious financial crime risks, arguing that easing restrictions on financial transactions would help facilitate trade and business with the country.
Tokyo is pushing for the removal of enhanced due diligence requirements imposed on FATF member countries when conducting financial transactions with Myanmar to prevent money laundering and terrorist financing, according to a senior Japanese government official and another person familiar with the matter.
Removing Myanmar from the blacklist would make financial monitoring and verification procedures less restrictive for businesses dealing with the country.
Myanmar has remained under international scrutiny since its military seized power in a coup in 2021, particularly over concerns involving scam centers and illicit financial activities.
Myanmar is currently one of only three countries on the FATF blacklist, alongside Iran and North Korea. The 40-member organization's third and final plenary meeting of the year is scheduled to conclude in Paris on Friday.
However, it remains unclear whether a decision to remove Myanmar from the blacklist will be made anytime soon. A second source, speaking on condition of anonymity, said at least one other major Asian country was also lobbying for Myanmar's removal.
A spokesperson for the FATF secretariat said the meeting was still underway and discussions remained confidential. Any changes to the blacklist would be announced after the meeting concludes on Friday.
A spokesperson for Myanmar's military-backed government did not respond to requests for comment.
Myanmar was placed on the FATF blacklist in 2022, following the February 2021 military coup and the subsequent escalation of instability and widespread civil conflict.
The country's deteriorating security situation has contributed to an increase in illegal drug production and trafficking. Meanwhile, industrial-scale scam centers have expanded across the Golden Triangle region. Some of these operations are allegedly run by armed groups linked to the military-backed authorities.
Myanmar's government has said it is participating in multinational initiatives to combat scam centers and is making efforts to seize illegal drugs. Officials have also blamed armed groups for drug production and trafficking.
A report published on Monday alleged that Myanmar had imported jet fuel from sanctions-hit Iran using falsified documentation. The report further claimed that the fuel was used in deadly bombing operations. Myanmar government officials did not respond to requests for comment on the allegations.
Myanmar became increasingly isolated internationally after the military ousted civilian leader Aung San Suu Kyi in February 2021. Japan's latest initiative is being viewed as part of broader efforts to rebuild diplomatic and economic engagement with the country.
Myanmar's military coup leader-turned-president, Min Aung Hlaing, remains under US sanctions over alleged human rights violations. The sanctions were imposed because of his role in leading the coup and the subsequent crackdown on mass anti-government protests.
Last month, a US delegation held direct talks with Myanmar's military-backed government in Naypyidaw. The meeting marked the highest-level engagement between the two sides since the 2021 coup.
Although efforts to shut down scam centers featured prominently in the discussions, the engagement could also open the door to future negotiations over access to Myanmar's substantial rare earth mineral resources.
Following those talks, further confidential discussions reportedly took place in Tokyo earlier this month.
While many foreign companies have withdrawn from Myanmar since the military takeover, several Japanese businesses have maintained a significant presence in the country.
According to the senior Japanese government official, Tokyo believes removing Myanmar from the FATF blacklist would make international business transactions with the country easier and help support its economic recovery.
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