Amlo readies laundering bill for Dec

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FINANCE

Published: 4 Oct 2012 at 00.00
Newspaper section: News

The Anti-Money Laundering Office hopes to have its anti-money laundering bill passed into law by the end of the year with the change likely to come into effect in February next year.

The Amlo would then ask the Financial Action Task Force (FATF), the global body which sets standards for anti-money laundering laws and combating the financing of terrorism, to remove Thailand from its watch list.

In a June 22 statement, the FATF said Thailand has not made sufficient progress in fighting money laundering.

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franklin
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Discussion 4 : 07 Oct 2012 at 10.474
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This from BP a few days ago; “The FATF already downgraded Thailand to its "grey list" this past February "for failing to implement laws to curb financial misconduct". An industry source said no agencies are willing to submit the names of those likely to be involved in money laundering since most of them are politicians”. Those in power would rather suffer the “black list rating” than give up the “golden goose ride”. Greed is god and Thailand suffers.
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lek
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Discussion 3 : 04 Oct 2012 at 13.423
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What's the betting it will make absolutely no difference to financial life in Thailand. Just for show.
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victor careford

Discussion 2 : 04 Oct 2012 at 11.152
More smoke and mirrors!
from iPhone application.
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Aussie John
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Discussion 1 : 04 Oct 2012 at 06.371
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Who will oversee the implementation of this law? With so much entrenched corruption throughout government institutions, business and the banking sector it seems Thailand will remain on the list as who in their right mind in the kingdom would want to turn off the flow of black money? Who?
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Amlo readies laundering bill for Dec | Bangkok Post: business