House Passes Law Targeting Funding For Terrorism: Thailand

[webfact]

House passes law targeting funding for terrorism

Olan Lertrattanadamrongkul

The Nation

BANGKOK: -- The House yesterday passed the anti-financial sponsorship of terrorism law and the amendment to the Anti-Money Laundering Act that were needed to remove Thailand from an international blacklist and help businesses conduct foreign transactions.

The anti-financial sponsorship of terrorism law had been proposed because even though Thailand already has an anti-terrorism law on its books as part of the Criminal Code as well as anti-money laundering laws, it did not have any instruments to prevent funds from getting to terrorists.

Passing the laws helps relieve businessmen, said Sihanart Prayoonrat, secretary-general of the Anti-Money Laundering Office (AMLO).

Once the law is enforced, AMLO will proceed to exclude the country from a blacklist enforced by Europe's Financial Action Task Force, which is seen as an impediment to international financial activities in Thailand.

Although many MPs, including red-shirt leaders charged with terrorism, voiced concern that the law might be a violation of human rights, the bill was approved by a vote of 362-1.

Under the law, authorities can block financial transactions involving terrorists or suspected terrorists who are included on the United Nations blacklist.

Those found to have any connection with terrorists or providing financial support to terrorists will face a maximum penalty of three years in prison and/or a maximum fine of Bt300,000, a draft of the bill obtained by The Nation showed.

Those controlling property found to be connected with providing funds for terrorists will be fined up to Bt1 million as well as charged Bt10,000 per day until such time the monetary transactions are brought to an end.

People who know, used to know or have done business with people listed as terrorists by the UN have the obligation to report to authorities. Failing to do so can subject them to fines of up to Bt500,000 and Bt5,000 per day if they continue to maintain contacts with terrorists.

Those accepting property or money or making arrangements for monetary transactions to support terrorists or organisations they know are connected with terrorism activities will face two to 10 years in prison and/or a fine of Bt40,000-Bt200,000.

Juristic bodies such as companies or foundations that are found committing wrongdoings under this law could be fined Bt500,000-Bt2 million. Managers or the personnel of such entities found to be directly involved in monetary transactions or any other related wrongdoing could face two to 10 years in prison and/or a fine of Bt40,000-Bt200,000.

The list of predicate offences in the Anti-Money Laundering Act was extended and the wording revised to be consistent with international standards. The amendment was supported by 371-0.

-- The Nation 2012-10-25

[OzMick]

Enacting law is one thing - enforcing law is quite another. Wouldn't want to infringe on the human rights of red shirt leaders, would we.

[asiawatcher]

What stupid results of this 'law'. For the fines and terms - they're joking right?

[AleG]

Oh, good! Now, let's see, where could they start to apply these laws.... hmmm...

How about:

[redroo]

In a country were everyone is bought, good luck !

[noitom]

Preposterous rational for the law. Instead of prioritizing security and safety for its citizens, guests, and foreign residents, they are passing the law to "reengineer their status" so as to encourage more "financial transactions." In this cas,"financial transactions" is a euphemism for "skimming more money and lining more Thai big men pockets" with euros and dollars.

[TomTao]

When we see politicians suspected of have links to or of supporting terrorists either financially or materially being charged under this law, then we can believe the Thai government is serious about this and are not doing it purely for appearances.

[jerrysteve]

What the hell is wrong with WASHING MACHINES most only require 30 baht to do one load... I think they make a King Size Industrial One that can handle 5 or 6 parliment people inside plus a couple of judges too and do a great job...I would even pay good hard earned laundered money to see how they on in the Spin Cycle. I think it would one hell of a site to see!!!!!! yes sir re bob!!! I wouldn't expect Thailand to enforce anti money laundering too soon coz there is too much money in it, & besides, thats only one of the many poop lists they have been on for a long time anyway.

Edited October 25, 2012 by jerrysteve

[hellodolly]

Make it retroactive to 2008

I bet that would change a lot of the votes.

But then again what the heck just because it is a law does nor mean they will enforce it.

Edited October 25, 2012 by hellodolly

[Noistar]

A 300,000bt fine really scares me

[khaowong1]

Oh, good! Now, let's see, where could they start to apply these laws.... hmmm...

How about:

This incident was suspected by the Americans, Brits and Israelis to have been Hezbollah instigated. The Thai's however just kind of pushed it aside.