Amlo: Big banks facilitating fraud | Bangkok Post: news

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Amlo: Big banks facilitating fraud

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The head of the Anti-Money Laundering Office on Thursday blamed big commercial banks for failing to check their clients’ backgrounds before opening accounts eventually used for fraud. 

Amlo secretary-general Seehanart Prayoonrat said his office is launching legal action against banks nearly every day because they are ignoring his office's earlier call for careful client-profile checks and opening accounts for fraudsters.

He said that the lack of cooperation had resulted in 175 cases of fraud that cost victims more than 100 million baht since last year. This included two long-established banks with large client bases, Mr Seehanart said.

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