NCPO threatens to freeze dubious financial transactions

[webfact]

NCPO threatens to freeze dubious financial transactions
Piyanut Tumnukasetchai
The Nation

BANGKOK: -- Strong controls such as the freezing of suspicious financial transactions will be used to suppress corruption, drug trafficking and money laundering if financial institutions and other agencies failed report on dubious accounts, assistant Army chief Lt-General Paiboon Koomchaya, who is in charge of legal and judicial affairs, said yesterday.

Paiboon said the National Council for Peace and Order (NCPO) had to examine some suspicious bank accounts after raids at some people's homes turned up 40 empty suitcases that are believed to have been used to transport cash. He was speaking at a meeting with the Anti-Money Laundering Office (AMLO) yesterday.

In the past, prisoners were given the right to open bank accounts, and at least 400 of these accounts were allegedly linked to drug dealing, he said.

"Banks should not be happy that dirty money can be circulated in the banking system," he said. "The NCPO is not super human, but it has the power to solve problems. We might have to leave the dimension of democracy for some time so we can solve the country's problems. Otherwise these problems will have a huge impact," he said.

AMLO secretary-general Pol Colonel Seehanat Prayoonrat said the agency will ask all financial institutions to check the accounts of clients they suspect of being involved in money-laundering activities, and provide details of these accounts to the office in three months.

The office will release a list of names under its "watch list", classifying high-risk money-laundering groups. The Office of the Narcotics Control Board will also screen and shortlist the groups. They include 1,000 suspected drug traders and 100 gamblers. Others include 324 bank accounts allegedly owned by call-centre gangs, 112 accounts suspected to be involved in tax-evasion activities and 14 suspected of e-fraud activities.

He said AMLO would first ask financial institutions to check and report on suspicious clients, and those who fail to check or report on these accounts would see Bt500,000 deducted from each account in question.

He said the AMLO has discovered that a call-centre gang had set up 30 accounts under one name and is suspected to be carrying out fraudulent activities.


-- The Nation 2014-06-19

[siampolee]

Seems as if there might be a a rise in the number of puckered up anus cases among certain people regarding this comment.

[thumper101]

I would be freezing the accounts under suspicion first of all.

People who suspect they may be targets will try to drain the accounts fast.

[chainarong]

Be like Australia, anything above ten grand is reported to the tax department, banking in or out and before you put it in or out of your account you have to explain where and why , companies wages are all registered, so that is not involved, as tax is paid in OZ paye. There needs to be a trace placed on those who are suspect and see where it all leads, interesting days indeed.

[northernjohn]

I would be freezing the accounts under suspicion first of all.

People who suspect they may be targets will try to drain the accounts fast.

Well the junta is doing some good work now but they are still hanging on to the policy of warning criminals when they are coming. A policy that should be dropped immediately.

[trogers]

I would be freezing the accounts under suspicion first of all.

People who suspect they may be targets will try to drain the accounts fast.

Well the junta is doing some good work now but they are still hanging on to the policy of warning criminals when they are coming. A policy that should be dropped immediately.

Do you not know the methods in hunting?

[Thailand]

Could check the unusually rich also but that may be a little too close to home?

[chainarong]

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Could check the unusually rich also but that may be a little too close to home?

You mean a lifestyle check , if so , that's been done, this is the continuation of that.

[BillyBobThai]

"The NCPO is not super human, but it has the power to solve problems. We might have to leave the dimension of democracy for some time so we can solve the country's problems. Otherwise these problems will have a huge impact,"

Damn, this just keeps getting better. Now if only they could confiscate all of the Shinawatra assets, as most if not all were probably illegal.

[noitom]

The Thai general says that bankers shouldn't be happy to see dirty money flowing through their systems. But we don't see any Thai bankers being handcuffed and hauled off in front of cameras. Until that happens, the whole thing is just a masquerade to appear that they are doing something. There is no transparency here. What do they plan to do and where will they put the 500,000 being deducted from each suspicious account?

[ginjag]

Could check the unusually rich also but that may be a little too close to home?

Just depends on WHO you are implying--I could think of a few hundred nearer to you home of thinking---3 years of cover ups would be a start. In denial as usual.

[fab4]

"The NCPO is not super human, but it has the power to solve problems. We might have to leave the dimension of democracy for some time so we can solve the country's problems. Otherwise these problems will have a huge impact,"

Damn, this just keeps getting better. Now if only they could confiscate all of the Shinawatra assets, as most if not all were probably illegal.

You don't find anything in the statement "We might have to leave the dimensions of democracy for some time" even the slightest bit sinister?

What if they're wrong? Qui Custodiet ipsos custodes?

[northernjohn]

I would be freezing the accounts under suspicion first of all.

People who suspect they may be targets will try to drain the accounts fast.

Well the junta is doing some good work now but they are still hanging on to the policy of warning criminals when they are coming. A policy that should be dropped immediately.

Do you not know the methods in hunting?

No but I strongly feel they don't move the animals to a no hunting area during hunting season.

[northernjohn]

"The NCPO is not super human, but it has the power to solve problems. We might have to leave the dimension of democracy for some time so we can solve the country's problems. Otherwise these problems will have a huge impact,"

Damn, this just keeps getting better. Now if only they could confiscate all of the Shinawatra assets, as most if not all were probably illegal.

You don't find anything in the statement "We might have to leave the dimensions of democracy for some time" even the slightest bit sinister?

What if they're wrong? Qui Custodiet ipsos custodes?

Actually it was a mistake as they have already admitted that they were going to turn it back over to the voters and their would still be issues for them to deal with.

Does that scare you or is it the fact that a lot of your criminal buddies will no longer be in the elected Parliament?

I call them your buddies because no one in their right mind would go to the lengths you have to protect them when it is so obvious that they are guilty and now we have the courts going after them. But you still want the good guys out.

[fab4]

"The NCPO is not super human, but it has the power to solve problems. We might have to leave the dimension of democracy for some time so we can solve the country's problems. Otherwise these problems will have a huge impact,"

Damn, this just keeps getting better. Now if only they could confiscate all of the Shinawatra assets, as most if not all were probably illegal.

You don't find anything in the statement "We might have to leave the dimensions of democracy for some time" even the slightest bit sinister?

What if they're wrong? Qui Custodiet ipsos custodes?

Actually it was a mistake as they have already admitted that they were going to turn it back over to the voters and their would still be issues for them to deal with.

Does that scare you or is it the fact that a lot of your criminal buddies will no longer be in the elected Parliament?

I call them your buddies because no one in their right mind would go to the lengths you have to protect them when it is so obvious that they are guilty and now we have the courts going after them. But you still want the good guys out.

You're a trusting soul, aren't you.

[danglars]

you try to transfer your own money out of thailand and it is going to be classed as a dubious transaction and freeze your cash. i say try here because no one has actually achieved it recently.

[fab4]

So, the story was reported on many, many times locally, with various sources . . . and you choose the Sydney Morning Herald to dispute their claims? You're getting desperate.

I provided one source for expediency - my comments to siampolee apply equally to you. You'll believe anything you want to.

[Rimbuman]

I would be freezing the accounts under suspicion first of all.

People who suspect they may be targets will try to drain the accounts fast.

Well the junta is doing some good work now but they are still hanging on to the policy of warning criminals when they are coming. A policy that should be dropped immediately.

Do you not know the methods in hunting?

I didn't think of that, very good point indeed, now let's try to keep this quiet and let nobody else know.

[Emster23]

"freeze dubious financial transactions" Watch out girls when you ask for money for buffalo that needs dentures. Or how about fella who thinks he is taking a lady home only to discover lack of "truth in packaging"?

[belg]

so fellow expats, how much bills of 1000 baht can fit in one suitecase you think ?

about 50.000 ?

[Suradit69]

dubious financial transactions

Seems as if there might be a a rise in the number of puckered up anus cases among certain people regarding this comment.

I wonder if that includes those who get extensions of stay without the bother of having a certified income or money in the bank or maybe even farang currency laundries real estate agents or Indian tailors.

Edited June 19, 2014 by Suradit69

[Phil Scammed]

"NCPO threatens to freeze dubious financial transactions".

I wish that included crooked, thieving, scamming, lawyers!!!

Maybe then I could get my house back from the lawyer who was looking after my company papers and chanot for me.

She then changed ownership names on both and took out a 2.9 million baht loan against my house.

Hello NCPO would you be interested?

[northernjohn]

"The NCPO is not super human, but it has the power to solve problems. We might have to leave the dimension of democracy for some time so we can solve the country's problems. Otherwise these problems will have a huge impact,"

Damn, this just keeps getting better. Now if only they could confiscate all of the Shinawatra assets, as most if not all were probably illegal.

You don't find anything in the statement "We might have to leave the dimensions of democracy for some time" even the slightest bit sinister?

What if they're wrong? Qui Custodiet ipsos custodes?

Actually it was a mistake as they have already admitted that they were going to turn it back over to the voters and their would still be issues for them to deal with.

Does that scare you or is it the fact that a lot of your criminal buddies will no longer be in the elected Parliament?

I call them your buddies because no one in their right mind would go to the lengths you have to protect them when it is so obvious that they are guilty and now we have the courts going after them. But you still want the good guys out.

You're a trusting soul, aren't you.

When it comes to you I am. I trust you to do every thing in your power to defend the corrupt PTP and put the Junta down. So far you have not let me down.

[Morch]

The Thai general says that bankers shouldn't be happy to see dirty money flowing through their systems. But we don't see any Thai bankers being handcuffed and hauled off in front of cameras. Until that happens, the whole thing is just a masquerade to appear that they are doing something. There is no transparency here. What do they plan to do and where will they put the 500,000 being deducted from each suspicious account?

Yes, bankers should definitely come under closer scrutiny and be held accountable for the whatever is going on in their banks.

Would love to see a review of all supposedly frozen accounts previously announced by the DSI and AMLO.

A good start, though.

[metisdead]

I think some people need to re-read the OP, off topic posts and replies have been removed.

[firestar]

I wonder if this extends to dubious transaction made by high ranking Military officers?

Of course not. wrong doings cannot even be spoken of never mind looked into.

Above all laws Arai...na?

[northernjohn]

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you try to transfer your own money out of thailand and it is going to be classed as a dubious transaction and freeze your cash. i say try here because no one has actually achieved it recently.

I know some of the scammers are not that brainy. But I would have thought the first week of the out of work PTP red shirt members would have been busy taking care of that. Not my business but with a banker on their pay roll would it not be done easily?

The Thai general says that bankers shouldn't be happy to see dirty money flowing through their systems. But we don't see any Thai bankers being handcuffed and hauled off in front of cameras. Until that happens, the whole thing is just a masquerade to appear that they are doing something. There is no transparency here. What do they plan to do and where will they put the 500,000 being deducted from each suspicious account?

Yes, bankers should definitely come under closer scrutiny and be held accountable for the whatever is going on in their banks.

Would love to see a review of all supposedly frozen accounts previously announced by the DSI and AMLO.

A good start, though.

Is it really hard to cover up a 1,000,000 baht transfer to an off shore account if the banker is in on it. Could they not make it look like there was never more money in the account than the person could reasonably be expected to have in it?

[khaowong1]

The Thai general says that bankers shouldn't be happy to see dirty money flowing through their systems. But we don't see any Thai bankers being handcuffed and hauled off in front of cameras. Until that happens, the whole thing is just a masquerade to appear that they are doing something. There is no transparency here. What do they plan to do and where will they put the 500,000 being deducted from each suspicious account?

My guess is, and I'm just guessing, that this was a way to put a notice to the bankers, that they are on shaky grounds, and if large amounts of questionable money is found in accounts, that the bankers were going to be held accountable. In other words, Mr. banker, come clean or your in deep poo poo. And I'm betting the bankers got the hint.