The Directorate of Investment and Company Administration (DICA) announced that four companies involved in online financial scams (cyber scams) and the transfer of Myanmar kyat and USDT funds have been blacklisted.
The four companies are Grand Myanmar Empire (GME) Co., Ltd. in Mayangon Township, Silverdale Co., Ltd. in Dawbon Township, Golden Shah Co., Ltd. and Kyaw Kyaw Htun Co., Ltd in Botahtaung Township.
DICA stated that, based on information from the Ministry of Home Affairs that the directors of the four companies were involved in online financial scams (cyber scams) and businesses transferring Myanmar kyat and USDT funds, the four companies and four individuals have been placed on the black list as persons and entities deemed unsuitable to continue conducting business as company directors.
The announcement also stated that companies registered through DICA’s online registration system must comply with the provisions of the Myanmar Companies Law, as well as other existing laws and regulations prescribed by relevant government departments and organizations governing their respective business activities. If any registered company is found to have failed to comply with such laws and regulations, the Registrar will announce the matter on the DICA website for public awareness, according to the announcement.
