BANGKOK, 6 June 2012 – The Deputy Prime Minister in charge of economy has expressed confidence that the anti-money laundering draft will be finalized before the meeting of the Financial Action Task Force (FATF) takes place in February 2013.
Deputy Prime Minister and Minister of Finance Kittiratt Na Ranong stated that the government is rushing to amend and strengthen the country’s legislation concerning money-laundering for fear that the country will be moved into the FATF’s blacklist due to its failure to take sufficient steps against money laundering and terrorist financing activities. Thailand is currently included on the international agency’s watch-list alongside 15 other nations.
According to Mr. Kittiratt, the anti-money laundering and anti-terrorism drafts have already been approved by the cabinet and are currently being reviewed by the Office of the Council of State before being submitted to parliament for deliberation. The Deputy Prime Minister has also reaffirmed the government’s full support in this matter and is confident that the two bills will be ready in time for the FATF’s meeting in February 2013.