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MYANMAR – The Central Bank, which is controlled by the junta council, announced on January 13 that 20 people who transferred and withdrew money through the private money transfer system from abroad have been prosecuted.
People operating the money exchange and transfer service said that the junta council, which has a large demand for foreign currency, is trying to bully the people who are transferring their salaries without using the banking systems that are controlled
by them.
“The money exchange services have been sending back wages this way since before the banking system in Myanmar became unreliable. Now, the junta council arrested them because they (military council) want foreign currency. We advise those services to be careful,” commented a person who operates a money transfer business in Thailand.
Among those who have been prosecuted by the junta council are nine who transferred the salaries of Burmese workers from Thailand, China and Malaysia; three people who transferred money for purchasing goods; and eight people who exchanged foreign currency into Kyats and issued money locally.
Since before, the junta council would issue propaganda news of arrests and punishments if they wanted to threaten the people into obeying their orders. Because of this, it is not possible to independently confirm whether the people who are sending money by private money transfer system were actually arrested and prosecuted.
Although the junta council has arrested the people involved in the money exchange business, its Central Bank has not yet planned under which section to prosecute, said an official of the Central Bank of the junta council. He added that he is coordinating with the relevant departments in order to impose punishment.