Thailand secures better status at money-laundering issue

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BANGKOK – Thailand has received a better status given by the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).

Anti-Money Laundering Office (AMLO) Secretary-General Chaiya Siriampankul revealed the outcome of Thailand’s AML/CFT’s evaluation during 15-21 July 2017 as the country has complied with the international standards in 26 out of a total of 40 money-laundering topics.

The figure shows a significant improvement compared to a previous evaluation in 2007 when Thailand only received 31 percent score. That means Thailand will not be listed as a country with money-laundering risks, he said.

The AMLO chief said the latest evaluation reflects the determination of the government to suppress money laundering, including amendment of laws.

The latest AML/CFT evaluation was the first since the international standard was adjusted in 2012. Thailand was reported to have performed exceptionally well in four out of 11 areas of evaluation.

The AMLO chief added Thailand needs to address other weaknesses to improve the performance, and must still improve its law to further comply with the international standards and to prepare for the increasing risks of transnational crimes.