Money laundering laws to change

Thailand to comply with the FATF's requirements

Published: 17 May 2012 at 15.01
Online news: News

The Anti-Money Laundering Act will be amended and strengthened by the end of this year because the intergovernmental Financial Action Task Force on Money Laundering (FATF) has blacklisted Thailand for not responding to its suggestions, Deputy Prime Minister Kittiratt Na-Ranong said on Thursday.

FATF, the prime international watchdog against money laundering, earlier put Thailand on its "dark grey list" and recommended it introduce stronger measures to block money laundering, which was a source of financial support for terrorist groups. Thailand has not responded to the recommendation.

Therefore, it has included Thailand on the list of high risk and non-cooperative jurisdictions failing to meet international standards.

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koolbreez
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Discussion 5 : 17 May 2012 at 19.575
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This makes it imparative that transparency is proven in all international money transfers now, both coming into, and going out of the country.

Thailand could not have sunk any lower under this government's financial policy. The finance minister, and all those around him should be commended.
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koolbreez
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Discussion 4 : 17 May 2012 at 19.564
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This makes it imparative that transparency is proven in all international money transfers now, both coming into, and going out of the country.

Thailand could not have sunk any lower under this government's financial policy. The finance minister, and all those around him should be commended.
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drsmith
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Discussion 3 : 17 May 2012 at 19.403
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Thailand blacklisted for money laundering? Inside Thailand they cliam to do no wrong, yet outside Thailand the world see's a completely different picture. Time for Thailand to take their blinders off and realize all the problems facing the country and equalize law and justice for ALL. Ranking 41 out of 48 (48 worst) in a recent Australian education survey, Thailand needs to understand they are not the smartest bunch and quit trying to fool those more educated when we all know better. Time to clean up Thailand starting with the unusually rich politicians.
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lazar
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Discussion 2 : 17 May 2012 at 19.202
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Congratulations Thailand you made it to the blacklist.
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Renaissance
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Discussion 1 : 17 May 2012 at 19.091
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I expect that some politicians are going to be really upset by this.
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Money laundering laws to change | Bangkok Post: business