Fri 30 Nov 2007
Filed under: Business / Trade,News
Five Myanmars were arrested on suspicion of operating a de facto underground bank by sending 1.5 billion yen received from their compatriots to Myanmar over a four-year period without a banking license, police said.
The police believe that 43-year-old Myo Khaing Zaw, owner of a variety shop in Takadanobaba, Shinjuku Ward, Tokyo, and the others have violated the Banking Law by acting on about 5,000 requests in total from Myanmars and sending the money to the country.
Under the military government, only corporations approved by the government can send money to Myanmar from abroad. The police believe that many Myanmars, including refugees who have escaped from persecution, have used this system to send money back to their homeland.