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Pattaya bankers updated on money-laundering laws
Suthasinee Nimitkul welcomes bankers and currency traders to
the meeting at City Hall.
Warunya Thongrod
Bank of Thailand officials updated Pattaya financial executives
on changes to Thailand’s money laundering rules.
Suthasinee Nimitkul, director of policy and exchange control, and Sanpen
Saengnetsawang, director of corporate transactions, spoke to bankers and
currency traders on amendments to the Prevention and Suppression of
Money Laundering Act of 1999 and regulations promulgated by the
Anti-Money Laundering Office.
The AMLO issued rules in August regulating the criteria and measures
that can be taken to evaluate and identifying customers, and reporting
transactions. They also held a meeting with foreign-exchange booth
operators to inform them of relevant laws.
Offenders are subject to fines of up to 500,000 baht, plus 5,000 baht
per day during the offending period, as well as jail terms of up to two
years.
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