Agencies issue Burma advisory

Financial Crimes Burma Of Interest to Non-US Persons OFAC Department of Treasury Department of State Department of Commerce Department of Homeland Security Department of Labor U.S. Trade Representative

On January 26, OFAC, along with Departments of State, Commerce, Homeland Security, Labor, and the Office of the U.S. Trade Representative, published a business advisory titled Risks and Considerations for Businesses and Individuals with Exposure to Entities Responsible for Undermining Democratic Processes, Facilitating Corruption, and Committing Human Rights Abuses in Burma (Myanmar), which informs the public of the heightened risks associated with conducting business in Burma, specifically business that involves the military regime. According to the announcement, since the military coup in 2021, the military has engaged in serious human rights abuse against the people of Burma. The specific entities and sectors of greatest concern for corruption and other illicit finance risks include, among other things, state owned enterprise and real-estate and construction projects.