FATF approves risk list upgrade
The Financial Action Task Force (FATF) has agreed to remove Thailand from its list of high-risk countries for financial transactions, the Anti-Money Laundering Office (Amlo) says.
- Published: 23/02/2013 at 10:30 PM
- Newspaper section: breakingnews
Amlo secretary-general Seehanart Prayoonrat said Saturday that FATF, an intergovernmental organisation tasked with fighting money laundering and terrorism financing worldwide, made the decision at its meeting in Paris on Friday.
Pol Col Seehanart, who led the Thai delegation at the Paris meeting, said FATF agreed to upgrade Thailand's status from "dark grey'' to "grey''. That means Thailand is still considered a risk, but is making active progress to address FATF concerns.
The decision came after Bangkok presented evidence to prove it was attempting to fight money laundering. Key to that evidence was the recent implementation of two bills on money laundering and financial support for terrorism.
The laws tighten regulations against financial irregularities and money laundering practices, Mr Seehanart said.
In February 2012, FATF named Thailand as one of 15 countries designated "high risk'' due to its failure to take sufficient steps against money laundering and terrorist financing act.
About the author
- Writer: King-oua Laohong
- Position: Reporter