page-loading
legal-general

Reporting suspicious financial transactions

Communicators come to the bank and deposit money; In relation to banking transactions involving the issuance and transfer of any amount of money, whether or not it is alleged to be related to money laundering or terrorist financing, or used for terrorist financing.

If there is reason to suspect that it is to be used, it must be grouped into suspicious transactions and sent according to the reporting format specified by the financial investigation team no later than 3 working days.

AML/CFT Awareness of Myanma Tourist Bank Ltd.

Every bank employee must know and comply with the following AML/CFT obligations.

  • Identification of Communications Operators
  • Points to be aware of regarding the communication operator
  • Continuity of contact information
  • Identification of Suspicious Activities
  • Transfer Tasks
  • Reporting
  • Assessment of risk status
  • Record keeping
legal-general

Bank Confidential but Obligation to Report/Disclose

Branches and departments are responsible for keeping bank customer account information confidential, but according to the Anti-Money Laundering Law, if the bank customer’s behavior is considered a suspicious change and reported as STR, it may harm the customer.

Training

The Bank shall have effective programs to train staff on all matters related to the AML/CFT area. It is important for employees to understand the nature of the methods adopted to reduce the risk of loss and the risk of loss related to ML/TF occurring in the bank, so it is important to provide training to increase the knowledge of all the employees involved in the bank.

And to provide this training to new employees and It must be done continuously for all employees. Regular training for all employees; AML/CFT awareness training programs for employees and AML/CFT awareness programs for board members must be provided.

legal-general