Myanmar - The faff after the FATF

13 Sept 18:25 Key points summarised by AI

The Financial Action Task Force (FATF) officially blacklisted Myanmar, citing the post-coup administration's failure to comply with international financial standards.
This blacklisting sparked widespread panic and speculation, causing the Myanmar Kyat's value to fluctuate wildly against the USD and other foreign currencies.
Businesses anticipate severe repercussions, including heightened scrutiny, slower international transactions, and potential difficulties for digital operations as correspondent banks may withdraw, fostering a black market.
Ordinary citizens are already experiencing the impact, with concerns over rising prices for essential goods and some vendors halting sales due to extreme exchange rate volatility.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.