Risks of money laundering, terrorist financing more complex due to cross-border remittances, expanded use of digital financial systems, says Myanmar Union Auditor General

YANGON: The risks of money laundering and terrorist financing have become more complex due to the increased use of cross-border remittances and digital financial systems, said Dr Khin Naing Oo, Auditor General of the Union, Chairman of the Myanmar Accounting Council, and Patron of the Myanmar Association of Certified Public Accountants.

As this becomes more complex and unpredictable, accountants will have to play a critical role not only in providing accounting services but also as gatekeepers for AML/CFT, he added.