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Thailand On Money-Laundering Blacklist


webfact

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More b.s. from the Nation.

For those interested, here is the link to the FATF last report http://www.fatf-gafi...1_1_1_1,00.html

I post it in full, I believe it's a much better starting point for a debate. I don't think the FATF will mind but the mods are of course free to edit if they disagree.

Which part is BS?

btw, here's wisegeek's description: http://www.wisegeek....-laundering.htm

That is the description, but no list on the page. Their definition of a blacklisted country:

"As part of its work to address global movements of funds for illicit purposes, the Financial Action Task Force on Money Laundering also has a blacklist of nations. Countries on the blacklist do not cooperate with the organization's recommendations."

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"Her deposit account eh? How did you work THAT out since most Thais like to carry out their transactions in Thai.

That's right, you read Thai.

Edited by NanLaew, Today, 07:48 ."

Roman numerals dude.

100,500000 is what I saw and on deposit you get 0.5% interest.

It could even have been a current account where you get nothing.

I wouldn't leave that sort of money in 1 account.

Here we're talking about money laundering.

I believe anything over 2 million hsa to be reported.

Remember the case against the democrats?

Monies were paid to girlfriends, wives ,sons and daughters etc. but payments never exceeded 2000000 baht

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So does this mean that when we try to transfer our hard earned funds out of TH to offshore they will be blocked or limited? I.e. legitimate savings deposited and currently kept in a Thai bank account.

Anyone got any factual information please?!? :-)

Its coming. Italy proposed a downward limit on cash transaction size to increase tax revenue. Eventually, the world will catch on and cash will become a thing of the past.

I know as I have just received some funds from Italy and it had to be split up to under £10000 transactions.The same occurs in the UK.

When I tried transferring £20000 here they were ringing up with questions about what the money was for.

Here too if you have an HSBC Premier account you can only transfer out 500000 baht per day I think.

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It's late but what's happening with house prices and rents?

They seem all of a sudden to be rising exponentially.

Incidentally I posted this before but only yards from where the iranian blew himself up some weeks back I was waiting behind a lady at the K bank as she withdrew money from the ATM.

I was curious as she touched the screen to count the zeros of the money she was taking out; 20,000 baht. She was so slow. Not uncommon.

I then happened to glance at the balance which was 100,500,000 baht. More than 2 million quid in her deposit account.

A developer we know has just rebuilt her old house and she was offered 26000000 baht for a 3 bedroom house by a farang off Sukhumvit soi 71 but instead now she wants to rent out for 100,000 per month.

A year or two back over in Silom there were no farang and now...

So, it's all the foreigners fault? Or at least the foreigners that peer over your shoulder at the ATM?

Her deposit account eh? How did you work THAT out since most Thais like to carry out their transactions in Thai.

That's right, you read Thai.

I also have great trouble reading Thai numbers & Falang numbers.........

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No more killing in the south. No more poor farmers getting cheated on their crops namely rice. No more dams. No more deforestation. No more senseless political muders. No more 16yr old drivers. No more self-exhiled DBs playing god. No more line cutting. No more underage prostitures. No more fraudulent NGOs. No more national park encroachment. No more ice from the burmese army. No more corruption on every level from soi dogs ruling sois to politicians selling people n drugs. No more shinawatra soap operas. No more than 5 chilis in my somtom. And please...no more seeds in the weed.

No more 16yr old drivers? The poor girl you refered to that caused 9 death was 17+.

Lot of 16 yo drivers in Thailand; no reference in the above to 9 deaths.

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The headline and story are not correct. Thailand is NOT on the blacklist, only Iran and North Korea are, but on another list, known as the grey list.

Perhaps so, although being lumped into the same category as Nigeria will bring unwanted scrutiny to financial transactions to / from Thailand.

Unwanted, excessive scrutiny is already hampering our business, here in Th. We have had corporate PayPal and Moneybookers accounts blocked without prior warning - at least in one case in violation with their own terms and conditions.

The ridiculous obstacles seemingly randomly imposed by PayPal and Moneybookers - apparently because of Thailand's status as a safe haven for money laundering and the financing of terrorism - seriously hurts our import and export business. Because we exclusively sell and provide services online, we can operate our business virtually anywhere on the globe and we may soon be forced to move elsewhere.

It is not only Thailand. I know of incidents where expats in Costa Rica have had their bank accounts frozen without warning. The account holder then has to prove where the funds came from in their accounts prior to them being unfrozen. Lots of money laundering and offshore shell corporations operate in CR. The US has been putting pressure on the Costa Rican government to tighten controls on money flow. All part of the the US tracking down undeclared wealth and earnings so they can tax it, along with the obligatory penalties, interest and subsequent criminal charges.

If only the US would mind their own f****** business. Neither our company, nor our shareholders or any of our staff are or have been subject to US legislation.

Accounts have been blocked four times now. Each time when they were unblocked we immediately made a donation to Wikileaks - which may very well be the reason why accounts got blocked again.

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  • 5 months later...

In an update, Thailand has failed to get off the money laundering blacklist after being unable to convince the Asia-Pacific Group on Money Laundering (APG) to back its removal, according to Anti-Money Laundering Office (AMLO) Chief Seehanat Prayoonrat yesterday.

He is said to have met with APG officials in Australia recently but to failed to convince them of Thailand's efforts in its attempts to resolve money-laundering and financing of terrorism.

The APG is the area entity of of the Financial Action Task Force (FATF) which downgraded Thailand's standing last Feb. for failing to implement curbs on financial misconduct. He said that the APG told him Thailand has not done enough in the interim to warrant any change in its status.

,

Edited by Buchholz
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There is a lot of information out there on the internet! Fact.

When someone starts an article like this and bases their source on a site with articles written by "experts" and edited for clarity by "viewers" then you get something like wikipedia. The below is their (wisegeeks) About Us.

post-76988-0-88982200-1343719544_thumb.j

Never have been comfortable following information like this

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