Money Launderers Face Govt Crackdown

[george]

Money launderers face govt crackdown

BANGKOK: The European Commission has called on the government to crack down on border traders who use their businesses as fronts for money laundering.

Anti-Money Laundering Office senior official Pol Col Sihanart Prayoonrat said EC ambassador Klauspeter Schmallenbach raised concerns over money laundering during talks last week with Justice Minister Pongthep Thepkanchana.

Mr Pongthep told Mr Klauspeter the government would take a leading role in suppressing money-laundering activities around the region, Pol Col Sihanart said.

The government would initially assist Burma, Cambodia, Laos and Vietnam in establishing anti-money laundering laws, as well as suppression and intelligence units, he said.

--Bangkok Post 2003-11-16