Electronic Transaction Reporting Gateway, Web Portal

Status:
Project Concept Development
Start:
FY2020-2021
End:
FY2020-2021

Sectors

Financial policy and administrative management

Project Description

The project aims to facilitate investigation of money laundering and illegal cash inflows and outflows that can cause economic instability and inflation.

The scope of the project includes establishment of a secure communication system between reporting units and financial investigation unit; upgrading from manual system to automated system to assist in obtaining information; and building a data center for intelligence analysis.

Implementation of the project will enable the Myanmar Financial Intelligence Unit (MFIU) to more efficiently carry out its functions such as recording, counterchecking with the recorded information, investigation, report writing with charts and graphs, publication of reports with Excel and PDF, storing data in the MFIU data center, sending files online, writing report online, sending reports from core banking system, counterchecking with watchlist and sanction list, and registration of the reported units, among others.

Project Expected Benefits

The project will significantly enhance the capability of MFIU to investigate money laundering and illegal inflows and outflows. Money laundering has the potential to undermine economic and political stability by damaging financial sector institutions that are critical for economic growth, promoting crime and corruption that slow economic growth, and reducing efficiency in the real sector of the economy.

Locations

Nay Pyi Taw Union Territory

Total Project Cost

1.00M

Financing Type

Inviting Additional Financing

Implementing Government Agency

Ministry of Home Affairs

Myanmar Sustainable Development Plan Alignment

Contact Detail

Tin Aung Win
Commander-in-Chief / Financial Intelligence Team