Four companies involved in online money laundering (Chinese scam) and transferring Myanmar Kyat and USDT money have been blacklisted

The Directorate of Investment and Company Administration has announced that four companies involved in online money laundering (Chinese scam) and transferring Myanmar Kyat and USDT money have been blacklisted. The four companies are Grand Myanmar Empire (GME) Co., Ltd. in Mayangone Township, Silverdale Co., Ltd. in Dagon Seikkan Township, Golden Shah Co., Ltd. in Botataung Township, and Kyaw Kyaw Htun Co., Ltd. It is known that the directors of these four companies have been informed by the Ministry of Home Affairs that they are engaged in online money laundering (Chinese scam) and the business of transferring Myanmar Kyat and USDT, and therefore these four companies and four individuals have been designated as unfit to continue business as company directors and have been blacklisted, the Directorate of Investment and Company Administration announced. It is stated in the announcement that companies registered in the Directorate of Investment and Company Administration's online registration system must comply with the provisions of the Myanmar Companies Law, and if they are found to be not complying with other existing laws and regulations set by the relevant government departments and organizations related to their business activities, the Registrar will announce it on the Directorate of Investment and Company Administration's website for public knowledge.