Myanmar Central Bank announced that it will close mobile payment accounts with incomplete personal information


Myanamr Central Bank announced yesterday, September 16, that it will permanently close mobile payment accounts without complete personal information.
This is done to combat the financing of terrorism and money laundering. It is written for fraud.

The name entered in the payment accounts; register It is stated that the phone numbers will be checked against the SIM card registration information by the Immigration and Manpower Ministry of the Military Council.

A resident of Yangon criticized the central bank’s announcement as violating the security of users.
“Kpay has levels 1, 1.5, and 2. Now I only have to do level 2, and the rest will be deleted. And even if I transfer money on my own, it’s like they will come and arrest me if they get suspicious.”

He said the military council may be targeting those using mobile payment systems to donate to anti-dictatorship campaigns.
The Central Bank, which is under the Military Council, said that those who do not want to upgrade can contact their nearest bank by filling in their personal information, but did not specify the deadline for upgrading.

(While seeing a person entering personal information through a mobile payment system on September 17, 2022)

Reporter: CNA John Smith