MYANMAR – The military council announced on June 23 that it had arrested more than 50 people operating overseas money transfer businesses without a license, just as the exchange rate for the dollar was rising.
According to the military council, the 51 people arrested are from Yangon and Mandalay.
The military council also said that they arrested those with suspicious evidence of conducting overseas money transfers or mobile money service businesses without a license. The military council released the news of the arrest at a time when the exchange rate for the dollar to Myanmar Kyats was rising due to the new US sanctions.
Only the number of those arrested was released, but the military council did not release the names and details.
At present, the military council controls the dollar transactions of banks, and foreign currency exchange counters are also closed for dollar transactions.