THE Central Bank of Myanmar makes efforts for the emergence of a secure and quality national payment system, as the technologies are well developed, the money transfer services can be made easily through mobile payment.

Meanwhile, unscrupulous persons do not fill in the correct data to commit illegal money transfers and swindling of money using mobile payments. Solving such frauds can be done only when people fill in their personal data correctly. Moreover, it should follow the Anti-Money Laundering and Countering the Financing of Terrorism procedures in making cross-border payments.

Currently, the Ministry of Immigration and Population builds a National Database listing over 52 million people, holders of any cards of citizens, associate citizens, naturalized citizens and any IDs through the e-ID Biographic Registration Software.

According to the international standards for the Electronic – Know Your Customer (e-KYC) processes, the user names, citizenship scrutiny card numbers and SIM-card numbers filled in mobile payment accounts will be checked with the National Database of the Ministry of Immigration and Population and SIM Registration Database of the Posts and Telecommunications Department.

Therefore, the users need to fill up the correct data for KYC. The mobile payment accounts will be cancelled for good if the users fail to fill up the data within the fixed duration.

The users of bank-led mobile payment, banks and enterprises allowed for mobile banking, mobile banking services and merchant acquiring operating under the permission of CBM should go to the nearest Agents/banks to make Level 2 upgrade in time. The service providers must send SMS to the Level 1 customers to upgrade it to Level 2 of KYC. Those who do not want to upgrade it to Level-2 can contact the banks and mobile banking service counters to ensure the proper ways to use the remaining balance.

Central Bank of Myanmar

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