Draft bill to inspect e-bank transfers over 50,000 baht
The Deputy Government Spokesman Rachada Dhnadirek says the Cabinet has now approved a draft bill proposed by the Anti-Money Laundering Office (AMLO) to inspect electronic transactions exceeding 50,000 baht, in a move to combat money laundering and financing of terrorists.
According to international standards, Thailand has been found lacking on 17 issues in relation to preventing money laundering and the financing of terrorism.
Financial institutions and businesses that come under the Anti-Money Laundering Act’s Section 16, such as gem dealers, car dealers or real-estate brokers, must undergo assessment.
“All transactions will be stopped and reported to AMLO if any signs of risky behaviour are detected.”
“Individuals who send more than 50,000 baht overseas and the recipient will have to provide their identification and information to banks before the transfer is completed.”
SOURCE: The Nation
Join the conversation and have your say on Thailand news published on The Thaiger.
Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.
Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.
