The move is aimed at supporting the new government’s vow to tackle corruption and maintain the country’s growth momentum.

Pol Colonel Kyaw Win Thein, deputy chief of the FIU and head of the anti-financial crime division, said last week that public cooperation plays a pivotal role in combating money laundering.

Reporting by stakeholders including banks, financial institutions, businessmen, brokers and the public will help FIU arrest “real” criminals.

“We would like to cooperate more with INGOs [international non-governmental organisations] and NGOs focusing on AML/CFT [the anti-money laundering and countering financing of terrorism act].

“We would like to know the findings from their surveys and field research. We can also share some of our information on suspicious activities,” he said.

Myanmar needed strict law enforcement and a strong mechanism in place to prevent the free flow of dirty money into the country, he said.

“In most of the cases, beneficial owners are usually free from punishment due to the lack of law enforcement.

“In case the judge lets the criminals free due to the weakness of the existing legal framework, all our efforts will be in vain,” he said.

The lack of a legal and institutional framework may turn Myanmar into a dumping ground for illicit money, he said. At present, non-profit organisations can freely undertake activities without cross-checking due to the government’s limited human resources.

Given the rise of terrorism groups like the Islamic State, a mechanism is needed to monitor youths, he said.

Thurein Aung, staff officer of the anti-financial crime division, said of 50 cases investigated since 2013, more than 30 were the result of tips from organisations.

He called for toughening of the existing anti-money-laundering law. All citizens should be forced to report transactions worth US$100,000 (Bt3.5 million) and over.

Thailand offered help to the FIU for fear that lagging rules in Myanmar may promote money laundering in the country and that could rock stability in both countries.