"Myanmar is set to be placed on a watchlist by a global finance watchdog this week, amid concerns of money-laundering by transnational drug traffickers and weak regulation of its financial system, two sources familiar with deliberations said. A decision to put Myanmar on the “gray list” by the Paris-based Financial Action Task Force (FATF) would mean the inter-governmental body had found “strategic deficiencies” in the country’s ability to counter money-laundering and terrorism financing. While being on the list does not carry any sanctions, it could curtail the growth of financial, investment and trade flows to and from the Southeast Asian nation, a high-level official, speaking on condition of anonymity, told Reuters. Kyaw Win Thein, the head of Myanmar’s Financial Intelligence Unit who is attending the FATF meeting in Paris this week, told Reuters that Myanmar “is not on the gray list so far”. Its fate will be decided at a plenary meeting on Thursday, he said. The FATF typically announces its decisions on Friday at the end of its Paris plenary meetings. Kyaw added that Myanmar’s government has developed a strategic implementation plan to improve its ability to counter-money laundering..."