Money laundering watchdog seized Bt10 billion in 15 years
By Digital Content



BANGKOK, Aug 19 -- Thailand's Anti-Money Laundering Office (AMLO) seized nearly Bt10 billion in assets suspected of money-laundering links and it will seek legal amendment to increase the range of money-laundering offences.

On the 15th anniversary of his agency today AMLO Secretary-General Seehanat Prayoonrat said that the office seized Bt9.7 billion in assets involved in money-laundering. Last year it sought court orders to confiscate Bt905 million in assets.

Next year AMLO will focus on seizing drug cartel assets and preventing money-laundering through financial institutions, he said. The office will strictly enforce the law to require financial institutions to report suspicious transactions.

The AMLO secretary-general said that improved anti-money laundering laws and measures increased asset seizures. In the first 13 years of its operation, AMLO seized Bt4.5 billion worth of assets while in the past two years it seized more than Bt5 billion in assets.

Pol Lt Col Seehanat said the AMLO will soon propose legal amendment to increase money-laundering offences and prevent terrorist financing and money-laundering through financial institutions.

AMLO will also change the minimum amount of cash that travelers must declare when arriving or exiting the country. The amount is presently set at US$20,000. (MCOT online news)


-- TNA 2014-08-19

So what happens to these assets / cash they confiscate. I guess it's beyond the average Thai reporter's grasp to actually flesh out a story for completeness.

Is it possible that all, or at least most of what was seized went on "administration" costs ?

Perhaps the photo is indicating how high these costs are ?

Without expended amount deducted from amount received and what, if any, was left and what it was spent on, it really is not much of a story, other than a "we are doing something" type of one.

I opened a new savings account recently. The lady asked to see my work permit. She said Thailand is high up the list of countries for money laundering. She then explained that there's a lot of 'Russian' mafia in places like Pattaya etc.

I could only infer that she thought a minority group of foreign criminals were to blame for Thailand's bad listing. Pesky foreigners ruining it for the good folks like me and the honest to god hard working rich locals.

What happened to the two bank officials. Who were called in for questioning? Also which two banks? Its all headlines. But nothing explained after!

Thats most likely chicken feed ,to the real amount of money that is

been laundered,the regulations make life harder for the little people,

while the real culprits carry on as normal,there must be couriers moving

money out the country every day,HK, Singapore etc,but i think the amounts

will have decreased substantially,now the MPs cannot get their grubby hands

on the "commission".

regards worgeordie

I opened a new savings account recently. The lady asked to see my work permit. She said Thailand is high up the list of countries for money laundering. She then explained that there's a lot of 'Russian' mafia in places like Pattaya etc.

I could only infer that she thought a minority group of foreign criminals were to blame for Thailand's bad listing. Pesky foreigners ruining it for the good folks like me and the honest to god hard working rich locals.

You don't honestly need a 'work permit' to open a bank account. Do you? Surely just a copy of your visa in your passport?

....how about the rogue monk that got away.....

So what happens to these assets / cash they confiscate. I guess it's beyond the average Thai reporter's grasp to actually flesh out a story for completeness.

They are given back of course.... same as when they took half of thaks money and gave it back.

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

Confiscating and seizing does not mean this agency was able to keep the parties from getting it back. What are the true numbers

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

I opened a new savings account recently. The lady asked to see my work permit. She said Thailand is high up the list of countries for money laundering. She then explained that there's a lot of 'Russian' mafia in places like Pattaya etc.

I could only infer that she thought a minority group of foreign criminals were to blame for Thailand's bad listing. Pesky foreigners ruining it for the good folks like me and the honest to god hard working rich locals.

You don't honestly need a 'work permit' to open a bank account. Do you? Surely just a copy of your visa in your passport?

If it as requirement for Non-O and Non-OA to have money on a thai bank account. How could you open it without a WP?!

That ten Billion is a drop in the bucket

How can they say this stuff and expect anyone to believe it?

The moment they say an amount, any thinking person says why so little, and by the way where did it go?

15 years to get 10 billion, he is joking right?

What a joke?

Hey 1 month 1000 million, maybe thats closer to the mark.

Disenchanted

They are such crooks

Edited August 19, 201412 yr by Nuddy

Sorry but I have to write again

How can this guy get his photo "up there" when .......by crikey, I cannot say it can I?

Oh my. Maybe he with his photo is saying, I am the guy!

I am the guy for ....well whatever.

Absolutely amazing and I am so disenchanted about him advertising it.

Naw, I cannot let this one go

Do we have a topic of the week?

How many staff does this guy have? How much do they pay him?

I cannot get past this.....anyone want to help me?

Sorry yep three posts in a row...I know its too much

Please forgive me

I opened a new savings account recently. The lady asked to see my work permit. She said Thailand is high up the list of countries for money laundering. She then explained that there's a lot of 'Russian' mafia in places like Pattaya etc.

I could only infer that she thought a minority group of foreign criminals were to blame for Thailand's bad listing. Pesky foreigners ruining it for the good folks like me and the honest to god hard working rich locals.

You don't honestly need a 'work permit' to open a bank account. Do you? Surely just a copy of your visa in your passport?

If it as requirement for Non-O and Non-OA to have money on a thai bank account. How could you open it without a WP?!

The rules are that you need a WP.

I know of people opening an account without one. TIT.

Pal of mine recently transferred 5million THB from France via Luxembourg. Money came from sale of property in France, documents supporting this were supplied. The bank withheld his money pending money laundering checks even though property sale documents were provided. After about 3 months he had to present his case to the court at Jomtien. He was fined 10,000 THB but he's unsure why. The court have deducted 50,000THB from his transfer for "costs". He has paid for a Thai lawyer to present his case. The court ordered what remains of his money to be paid to him. One month later he still does not have his money and is borrowing from friends to survive.

No further comment to make about it.