The Financial Action Task Force (FATF) has placed Myanmar on its “blacklist” of countries that do not comply with international anti-money-laundering standards.

The FATF took the decision to issue what it describes as a “call for action” at a plenary session in Paris, held on October 20 and 21. The move could severely impair Myanmar’s ability to participate in international financial transactions.

Myanmar becomes only the third country on the blacklist, after Iran and North Korea. The FATF’s