MONEY LAUNDERING
Execs from 2 banks to get AMLO summons for dereliction
Piyanut Tumnukasetchai
The Nation

BANGKOK: -- Executives from two banks will be summoned by the Anti-Money Laundering Office (AMLO) for allegedly ignoring its request to investigate certain bank accounts over suspicions of money laundering, AMLO chief Pol Colonel Srihanat Prayoonrat said yesterday.

Since people behind call-centre scams and fraudulent transactions over social media and the Net use bank accounts to launder money, Sihanat said he felt uneasy about banks allowing criminals to conduct monetary transactions. He said this proved that banks did not implement measures outlined to check on customers, which later led to damages.

In 2013-14, there were 175 cases of fraud that caused more than Bt100 million in damage, however, two long-established banks let these suspects open accounts, he said. AMLO also found 559 suspicious accounts at these banks, he said.

He went to explain that AMLO would summon executives from two banks to emphasise the necessity of checking each and every customer's details and will also find out if banks face any obstacles in finding these details.

Source: http://www.nationmultimedia.com/national/Execs-from-2-banks-to-get-AMLO-summons-for-derelic-30240520.html

[thenation]2014-08-08[/thenation]

Good. Tip of the iceberg but let's see more of this: a safe and reliable banking system is fundamental and it's past time to root out these inept crooks.

The junta...new government should be slamming down hard on the banks.  

 

Aside from the money laundering, what about the BS fee's they rip off us.   All their computer centres are local to Bangkok so why the he11 are we paying ATM fee's for withdrawals out of province?  In Chonburi I pay no ATM fee to withdraw money yet up in Phichit I get stung for 25 baht.  One computer centre for the whole of Thailand in Bangkok is their choice...just like their rip off fee's! 

Good. Tip of the iceberg but let's see more of this: a safe and reliable banking system is fundamental and it's past time to root out these inept crooks.

Yes more please but I'm not sure inept covers what they do.

 

Isn't making money the very essence of banking and what do you mean we've been doing something illegal ?

Which Banks?

I bet this would be of some INTEREST in the banking forum.

 

.......once again.......guilty parties not mentioned.....

''He went to explain that AMLO would summon executives from two banks to emphasise the necessity of checking each and every customer's details and will also find out if banks face any obstacles in finding these details.''

 

​There going to get a damned good talking to, is that all.

This is the latest in a series of fraudulent activities involving personnel of Thai banks.

 

When questioned the banks state that all their staff are vetted and therefore thoroughly reliable.

 

Why and how then is private and personal information obtained by the numerous scammers who have been reported, and some caught, over the last year, all recorded on this forum?

 

The public have a right to know WHICH banks are being investigated in these matters.

 

Why was it left to AMLO, in September 2013, to issue a warning about frauds being carried out on individuals. Surely the banks should have been the first to warn their clients of these activities? Yet I have seen nothing but facile excuses and lame explanations from banks, some of whom do not respond to requests for cooperation with the police when a scam is reported or indeed, reply to complaints until hard-pressed by repeated mails.

 

The Thai money laundering in banking should be a major opportunity for the Thai military dictatorship to bust bankers and break the back of Thailand's money laundering. If the Thai military dictatorship cares about it, they will use money laundering busts, arrests, stings, and prosecutions of Thai bankers to make a great show of their efforts to clean up.

hardly likely

low hanging fruit popular with the spoon fed easily lead

is the name of the game

The junta...new government should be slamming down hard on the banks.  
 
Aside from the money laundering, what about the BS
fee's they rip off us.   All their computer centres are local to Bangkok so why the he11 are we paying ATM fee's for withdrawals out of province?  In Chonburi I pay no ATM fee to withdraw money yet up in Phichit I get stung for 25 baht.  One computer centre for the whole of Thailand in Bangkok is their choice...just like their rip off fee's! 

The bank fee portion of the post is irrelevant as they all do this. However, glad they got pinched.

.......once again.......guilty parties not mentioned.....

Yes but there's the major problem of Thailand's crazy defamation laws and how they are so easily used.

.......once again.......guilty parties not mentioned.....

 

Possibly because they've not been convicted of anything yet, which means that, so far, they are not guilty?
 

Edited August 8, 201412 yr by Zeegator

This is the latest in a series of fraudulent activities involving personnel of Thai banks.

 

When questioned the banks state that all their staff are vetted and therefore thoroughly reliable.

 

Why and how then is private and personal information obtained by the numerous scammers who have been reported, and some caught, over the last year, all recorded on this forum?

 

The public have a right to know WHICH banks are being investigated in these matters.

 

Why was it left to AMLO, in September 2013, to issue a warning about frauds being carried out on individuals. Surely the banks should have been the first to warn their clients of these activities? Yet I have seen nothing but facile excuses and lame explanations from banks, some of whom do not respond to requests for cooperation with the police when a scam is reported or indeed, reply to complaints until hard-pressed by repeated mails.

 

 

"Why and how then is private and personal information obtained by the numerous scammers...all recorded on this forum?" 

 

Such as what?

 

.......once again.......guilty parties not mentioned.....

Yes but there's the major problem of Thailand's crazy defamation laws and how they are so easily used.

 

 

As is only right when no-one has been found guilty of anything.
 

The public has a right to know which banks, bullshit we do, certainly not until anything is proven.

The 25 bht ATM charge is pretty much world wide except in my home country 4 times as much

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.......once again.......guilty parties not mentioned.....

Yes but there's the major problem of Thailand's crazy defamation laws and how they are so easily used.

 

 

Because bankers are RICH hahaha. Any defamation will be sued immediately. It's usually news when somchais are related where names are given freely.   Selective use of law

This is suggesting that banks investigate every new customer to see if they were involved in any form of criminal activities, whether convicted or not. Ridiculous.

 

If an individual is convicted of money laundering or any fraudulent activity, it is surely the court's responsibility (or AMLO's) to advise the banks that the individual or business is banned from opening a new account. If they haven't been convicted but are suspected of criminal activities, isn't that AMLO's job to investigate and check with the banks.

 

To me it looks like AMLO are trying to shift the blame for their incompetence.

The junta...new government should be slamming down hard on the banks.  

 

Aside from the money laundering, what about the BS fee's they rip off us.   All their computer centres are local to Bangkok so why the he11 are we paying ATM fee's for withdrawals out of province?  In Chonburi I pay no ATM fee to withdraw money yet up in Phichit I get stung for 25 baht.  One computer centre for the whole of Thailand in Bangkok is their choice...just like their rip off fee's! 

 

It seems they have learned well from the practices most Western banks have been applying for years. Years ago, when international equity markets were relatively stable, banks could make a fairly predictable return off investments but now they have found that charging fees for all services to be a much more dependable source of income.

 

Just because you now have to pay for something that was once free doesn't make it a "rip off".  You want to have all the conveniences and advantages of branch banking and ATM cards....you just don't want to pay for it.