Myanmar Mayflower Bank

Last updated
Myanmar Mayflower Bank
IndustryBanking
Founded1994 (1994)
FounderKyaw Myint
Defunct2005 (2005)
FateDissolved
Headquarters
Yangon
,
Myanmar

Myanmar Mayflower Bank was a bank of Myanmar. Founded in 1994 by Kyaw Myint, it was formerly the third largest bank in the country with ten branches. [1] It has, like Banco Delta Asia, been designated as a "primary money laundering concern" by the United States Treasury and thus is subject to very strict regulations in its dealings with American banks. [2] The bank's license was revoked by government authorities in March 2005 following a money laundering investigation. [3] [4]

References

  1. ↑ "Burmese Tycoons Part II". The Irrawaddy. July 2000. Archived from the original on September 20, 2010. Retrieved August 9, 2009.
  2. ↑ "USA Patriot Act: Section 311". Archived from the original on 2013-10-04. Retrieved 2013-10-07.
  3. ↑ "Myanmar private bank owner charged under money laundering laws". Xinhua. 2 April 2007. Retrieved 2 July 2015.
  4. ↑ "Myanmar government closes suspect banks". Taipei Times. 3 April 2005. Retrieved 2 July 2015.

16°46′25″N96°09′42″E / 16.77361°N 96.16167°E / 16.77361; 96.16167


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