Amlo: Thailand facing international blacklist

Business > Economics

MONEY LAUNDERING

Amlo: Thailand facing international blacklist

Published: 11/02/2012 at 02:38 AM
Newspaper section: Business

Thai businesses could suffer enormous losses if Thailand fails to strengthen its legal and regulatory framework against money laundering, warned local financiers and regulators.

Sihanart Prayoonrat, acting secretary-general of the Anti-Money Laundering Office (Amlo), said Thailand could be blacklisted or see its status downgraded due to delays in strengthening its anti-money laundering laws.

A downgrade, Col Sihanart said, would have a potentially sweeping impact on the Thai finance and business sectors as well as the general public because international financial transactions would become more complicated.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

About the author

: Writer: Post Reporters; Position: Reporters

Keep this article in your social bookmark:

Latest stories in this category:

Your comments

koolbreez
Post : 439
Send message

Discussion 2 : 11/02/2012 at 04:52 PM2
Post this to my Facebook
Grab the money, and run with no concern for the country, or how it affects it. Of course there is foot dragging in establishing a powerful anti-money laundering agency, and giving it power. Then most of those in power would have to run, and hide. They could set up quite a colony in Dubai.
Like dislike 0 people liked / 0 people disliked this comment
loopholes
Post : 149
Send message

Discussion 1 : 11/02/2012 at 04:15 PM1
Post this to my Facebook
If our Thai cabinet minister can be black listed, it is not surprising Thailand can face the same fate altogether !
Like dislike 0 people liked / 0 people disliked this comment

Amlo: Thailand facing international blacklist | Bangkok Post: business