Thailand’s Anti-Money Laundering Office praised for meeting international standards

[webfact]

Picture: Naew Na

 

The Asia-Pacific Group on Money Laundering (APG) has assessed Thailand's efforts as meeting international standards, reported Naew Na. 

 

They were referring to the activities of AMLO or the Anti-Money Laundering Office.

 

It's secretary-general Pol Maj-Gen Piyapun Pingmuang said that the APG rating for his organisation under their four criteria of effectiveness had risen from 56.18% in 2017 to 61.15% this year. 

 

The four criteria considered are dealing with foreign countries with risk of money laundering,  terrorist and electronic funds transfer regulations, measures of representative financial institutions and reports made of suspicious avtivites.

 

The AMLO chief also praised his organisation's efforts in combatting the trade in illegal wildlife trafficking saying that AMLO had seized 300 million baht in assets. 

 

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[Karma80]

And this article will be the most ironic thing you read today.

 

I should get back to washing my supercars.

[RotBenz8888]

11 minutes ago, webfact said:

The Asia-Pacific Group on Money Laundering (APG) 

Anyone knows if they are for real? 

[tomacht8]

Unclear information. How much of assets was seized in total and in what period of time?

A total of 300 million baht would be then really nothing.

 

Edited September 1, 2021 by tomacht8

[Rampant Rabbit]

34 minutes ago, webfact said:

56.18% in 2017 to 61.15% this year. 

Gasppppppppppppppppppppp!

[Rampant Rabbit]

20 minutes ago, RotBenz8888 said:

Anyone knows if they are for real? 

You know  how  the Police investigate themselves........

[Gandtee]

10 minutes ago, Rampant Rabbit said:

Gasppppppppppppppppppppp!

I'm very impressed.????

[Bluespunk]

45 minutes ago, webfact said:

It's secretary-general Pol Maj-Gen Piyapun Pingmuang said that the APG rating for his organisation under their four criteria of effectiveness had risen from 56.18% in 2017 to 61.15% this year. 

Damned by faint praise indeed.

[realfunster]

 

Best eaten with several large pinches of salt. 

[Will B Good]

50 minutes ago, webfact said:

The four criteria considered are dealing with foreign countries with risk of money laundering,  terrorist and electronic funds transfer regulations, measures of representative financial institutions and reports made of suspicious avtivites.

What about 5 criteria and include Indian tailor's shops in BKK?

Edited September 1, 2021 by Will B Good

[RJRS1301]

Obviously they did not include an audit of ALL police and politicians or their overseas holdings

[worgeordie]

Make it more difficult for the small guy to move

a few bob around , while the really corrupt people,

drug dealers , seem to have no trouble moving their

ill gotten gains around, or displaying wealth way beyond

what the should have legally........no problem.

regards Worgeordie

[Misty]

As the owner of a regulated financial company that is under direct oversight of AMLO - from my own experience - I'd say they do a pretty good job. AMLO's interaction with us has been good, helpful & professional.

 

There may be problems with the unregulated companies that operate in the same space, however.

[Gandtee]

2 minutes ago, Misty said:

As the owner of a regulated financial company that is under direct oversight of AMLO - from my own experience - I'd say they do a pretty good job. AMLO's interaction with us has been good, helpful & professional.

 

There may be problems with the unregulated companies that operate in the same space, however.

I'm sure you are right. But are they looking in the areas of what would appear to be the heart of money laundering of ill gotten gains. I leave you to take a guess at whom these could possibly be.

[Misty]

8 minutes ago, Gandtee said:

I'm sure you are right. But are they looking in the areas of what would appear to be the heart of money laundering of ill gotten gains. I leave you to take a guess at whom these could possibly be.

It's a big world out there.  If you do a search on the Offshore Leaks Database, you get over a thousand entities that are organized in other jurisdictions, but that have links here:

 

[BKKTRAVELER]

They finally met the international standards of the Cayman Islands, Isle of Man, British Virgin Islands, Macau, Switzerland and the likes!

 

Well done guys and welcome to the club ????

[SCOTT FITZGERSLD]

Thai law allow the policeman / officer who confiscated ill gotten assets to obtain 25% of the

value, while thesnitch can keep 30%.

this should beremembered as a warning by all expats who move money to thailand.

google : dutch man 100 years jail thailand

[SCOTT FITZGERSLD]

1 hour ago, Misty said:

There may be problems with the unregulated companies that operate in the same space, however.

All those money laundry regulations are an expression of global one world government which is led mostly by the U.S. and GERMANY, and as far as i recall, those two countries are the largest producers and distributors of porn films, as well as the biggest consumers of all kinds of drugs, not to mention few horrific world wars here and there, so god help us all

with such global police.

their aim is not really to clean and purify the world because they are the main source of

filth and corruption on this planet. their goal is sheer control and rule over anything that moves.

[Phuketshrew]

I wonder how big the brown envelope was to get the APG to say that?

[Will B Good]

14 minutes ago, SCOTT FITZGERSLD said:

All those money laundry regulations are an expression of global one world government which is led mostly by the U.S. and GERMANY, and as far as i recall, those two countries are the largest producers and distributors of porn films, as well as the biggest consumers of all kinds of drugs, not to mention few horrific world wars here and there, so god help us all

with such global police.

their aim is not really to clean and purify the world because they are the main source of

filth and corruption on this planet. their goal is sheer control and rule over anything that moves.

CCP?

[ukrules]

Isn't this the office which hassles people who send more than a few million Baht in a wire?

[RJRS1301]

45 minutes ago, ukrules said:

Isn't this the office which hassles people who send more than a few million Baht in a wire?

That's the one

[metisdead]

A post using an oversized trolling emoji and a reply has been removed. 

[Dont confuse me]

By the time all the sticky fingers have been in the pie there's normally nothing left  to launder.

There must be an argument against Jo for laundering money? I mean 29 cars (one for every day of the week, February leap years!) 

This country is a joke an absolute den of thieves.

[natway09]

The head of this organization based on Sathorn Road should make a Top Brass Police position's "personal weath" small change"

See, I am beginning to understand how it works

[Burma Bill]

6 hours ago, webfact said:

Asia-Pacific Group on Money Laundering (APG)

For reference (Wikipedia):-

 

APG has two Co-Chairs: one permanent and one two-year term rotating Co-Chair. The permanent Co-Chair is Australia, represented by Deputy Commissioner Ian McCartney (2019), Australian Federal Police, and the current rotating Co-Chair is Malaysia, represented by Mr. Marzunisham Omar (2020), Deputy Governor of the Central Bank of Malaysia [1].

 

Members;- (some interesting ones when it comes to money laundering!!)

1.  Afghanistan
2.  Australia
3.  Bangladesh
4.  Bhutan
5.  Brunei Darussalam
6.  Cambodia
7.  Canada
8.  China
9.  Cook Islands
10.  Fiji
11.  New Zealand
12.  Hong Kong
13.  India
14.  Indonesia
15.  South Korea
16.  Laos
17.  Macau
18.  Japan
19.  South Korea
20.  Maldives
21.  Marshall Islands
22.  Malaysia
23.  Mongolia
24.  Myanmar
25.  Nauru
26.  Niue
27.  Pakistan
28.  Palau
29.  Papua New Guinea
30.  Philippines
31.  Samoa
32.  Singapore
33.  Solomon Islands
34.  Sri Lanka
35.  Taiwan
36.  Thailand
37.  Timor-Leste
38.  Tonga
39.  United States
40.  Vanuatu
41.  Vietnam

[RJRS1301]

9 minutes ago, Burma Bill said:

For reference (Wikipedia):-

 

APG has two Co-Chairs: one permanent and one two-year term rotating Co-Chair. The permanent Co-Chair is Australia, represented by Deputy Commissioner Ian McCartney (2019), Australian Federal Police, and the current rotating Co-Chair is Malaysia, represented by Mr. Marzunisham Omar (2020), Deputy Governor of the Central Bank of Malaysia [1].

 

Members;- (some interesting ones when it comes to money laundering!!)

1.  Afghanistan
2.  Australia
3.  Bangladesh
4.  Bhutan
5.  Brunei Darussalam
6.  Cambodia
7.  Canada
8.  China
9.  Cook Islands
10.  Fiji
11.  New Zealand
12.  Hong Kong
13.  India
14.  Indonesia
15.  South Korea
16.  Laos
17.  Macau
18.  Japan
19.  South Korea
20.  Maldives
21.  Marshall Islands
22.  Malaysia
23.  Mongolia
24.  Myanmar
25.  Nauru
26.  Niue
27.  Pakistan
28.  Palau
29.  Papua New Guinea
30.  Philippines
31.  Samoa
32.  Singapore
33.  Solomon Islands
34.  Sri Lanka
35.  Taiwan
36.  Thailand
37.  Timor-Leste
38.  Tonga
39.  United States
40.  Vanuatu
41.  Vietnam

I expect after this week Afghanistan will no longer hold membership.

 

 

[Misty]

1 minute ago, RJRS1301 said:

I expect after this week Afghanistan will no longer hold membership.

 

 

Ahmal Ahmady, the former Acting Governor of Da Afghanistan Bank (central bank) fled Afghanistan on a US military flight on 15 Aug.  He was pretty credible, from what I could tell.  I doubt the Taliban will be able to muster his equivalent.

[SCOTT FITZGERSLD]

5 hours ago, Will B Good said:

CCP?

pps !

[wensiensheng]

The article doesn’t really provide any comparative yardsticks. Versus countries like Philippines, Indonesia and Cambodia, I could see a score just above 60%, looking quite good. Against Singapore and HK, it probably looks miserable.

 

the best I can say is that at least it improved. But imho, a score of 61% is nothing to shout about.