Panama Papers scandal prompts quick action by Thai AMLO

[webfact]

Panama Papers scandal prompts quick action by Thai AMLO



BANGKOK: -- Thailand reacted promptly to the "Panama Papers" scandal with the Anti Money Laundering Office (AMLO) saying it will seek coordination from foreign anti money laundering sources for information of Thais on the list if they were engaged in money laundering offshore or not.

AMLO advisor Pol Col Sihanart Prayoonrat said any further information received will be revealed at a press conference on April 8.

AFP reported that the Panama scandal erupted on Sunday when media groups began revealing the results of a year-long investigation into a trove of 11.5 million documents from the Panamanian law firm Mossack Fonseca, which specialises in creating offshore shell companies.

The scandal triggered tax evasion probes by several countries after a massive leak of confidential documents lifted the lid on the murkey offshore financial dealings of a slew of politicians and celebrities.

Among those named in the “Panama Papers” are close associates of Russian President Vladimir Putin, relatives of Chinese leader Xi Jinping and Iceland’s Prime Minister Sigmundur David Gunnlaugsson, as well as Barcelona striker Lionel Messi.

Twenty names of Thai nationals who included well-known rich families, businessmen, celebrities, politicians and military officers are said to be among the list. They are linked to 963 companies.

Pol Col Sihanart said AMLO is in coordination with 150 countries worldwide.

He said if AMLO in these countries found unusual money laundering with these names and companies, they will send information to Thailand to conduct investigations.

He said he will report more information on its finding at a press conference at 10.30 am on Friday April 8.

But Justice minister Gen Phaiboon Koomchaya said the investigation of these names does not mean they or their businesses have done anything wrong.

But they will have their back tax payment records in the past five years checked if they matched with their businesses or not.

The Revenue Department and the Office of the Auditor-General will work closely to investigate.

AFP said in Iceland’s capital Reykjavik, thousands took to the streets late Monday to demand the premier resign over allegations that he and his wife used an offshore firm to hide millions of dollars of investments.

Australia has already launched a probe into 800 wealthy Mossack Fonseca clients. France and the Netherlands also announced investigations, while a judicial source said Spain had opened a money-laundering investigation into the law firm.

Panama also pledged to launch an investigation to identify if any crimes have been committed and any financial damages should be awarded, according to AFP.

Source: http://englishnews.thaipbs.or.th/content/158309


-- Thai PBS 2016-04-05

[thesetat2013]

Sounds like their are going to be quite a few Thais scrambling to their banks to get those envelopes ready. It amazes me that this is just coming to light. Panama was well known for its banking practises for offshore accounts.

[phoenixdoglover]

Again please. What actions, other than waiting for information from foreign sources, is AMLO taking?

[rkidlad]

Again please. What actions, other than waiting for information from foreign sources, is AMLO taking?

Oh, you didn't think AMLO was taking action 'against' these figures, did you?

They just want their slice of the pie. That'll be done in secret though.

[canopus1969]

In another report :

It is not clear how Amlo reached this number (20 or 21). In fact, the Panama Papers include at least 780 names of individuals and another 50 names of companies based in Thailand. Some are foreigners or foreign-owned companies.

There are 634 individual addresses listed in Thailand.
(Prominent names include the CEOs of giant companies Bangkok Land and Phatra Finance.)

[Bluespunk]

Tick, tick, tick...

[jamesbrock]

The Panama Papers are pretty much confirming what the majority of us already thought in the first place, and I would be surprised if there were't well-known rich families, businessmen, celebrities, politicians and military officers on the list!

And, while the stuff hits the fan, let's just remember that the Panama Papers are sourced from just one law firm, in just one tax haven. This is most certainly the tip of the proverbial iceberg.

This is going to be fun to watch...

[EyesWideOpen]

Knowing Thailand well, and its ongoing protection of any

members of the powerful elites, I suspect AMLO will be

doing everything it can to assist those people rather

than attacking them with this new information... :-)

[daiwill60]

The Panama Papers are pretty much confirming what the majority of us already thought in the first place, and I would be surprised if there were't well-known rich families, businessmen, celebrities, politicians and military officers on the list!

And, while the stuff hits the fan, let's just remember that the Panama Papers are sourced from just one law firm, in just one tax haven. This is most certainly the tip of the proverbial iceberg.

This is going to be fun to watch...

That is a bloody good point to be honest.

It will be sure that not everyone showing up in these lists will be identified, unless someone outside Thailand independently takes on that responsibility and spreads it all over the internet, as they may not be so ready to accept dirty brown envelopes as others. Not that I am suggesting that should happen, at all.

Edited April 5, 2016 by daiwill60

[doremifasol]

Yummy stuff........

[jamesbrock]

The Panama Papers are pretty much confirming what the majority of us already thought in the first place, and I would be surprised if there were't well-known rich families, businessmen, celebrities, politicians and military officers on the list!

And, while the stuff hits the fan, let's just remember that the Panama Papers are sourced from just one law firm, in just one tax haven. This is most certainly the tip of the proverbial iceberg.

This is going to be fun to watch...

That is a bloody good point to be honest.

It will be sure that not everyone showing up in these lists will be identified, unless someone outside Thailand independently takes on that responsibility and spreads it all over the internet, as they may not be so ready to accept dirty brown envelopes as others. Not that I am suggesting that should happen, at all.

Oh, they'll be exposed, don't worry about that!

Hopefully something like this will happen:

http://www.abc.net.au/news/2016-04-05/icelandic-pm-refuses-to-resign-over-panama-papers-leak/7298944

[ChrisY1]

The Thais will go to all lengths to protect their identity......as will the government...

Don't expect any revelations unless the families with opposing views, as those in the sights now, are taken into consideration.........

[macksview]

plea to posters with the skills and knowledge, to explain this story as it develops.

'idiots guide to panama papers' is required.

this story is exciting, but also a bit scarey.

[jamesbrock]

plea to posters with the skills and knowledge, to explain this story as it develops.

'idiots guide to panama papers' is required.

this story is exciting, but also a bit scarey.

An obscure law firm in Central America is at the centre of the world's largest data leak. The massive security breach shows how a global industry of law firms and big banks sells financial secrecy to politicians, fraudsters and drug traffickers as well as billionaires, celebrities and sports stars.

The exposé of Panama-based Mossack Fonseca has been made possible by an unprecedented leak of more than 11 million documents to German investigative newspaper Süddeutsche Zeitung. The leak came from an anonymous source and was then shared with the International Consortium of Investigative Journalists (ICIJ) which organised an investigation by news organisations around the world.

The cache of documents includes emails, banking details and client records dating back 40 years and reveals the inner workings of a law firm famed for its secrecy.

At the helm of Mossack Fonseca sits German-born lawyer Jurgen Mossack and Panamanian lawyer Ramon Fonseca, who until a month ago worked as an advisor to Panamanian President Juan Carlos Varela.

Using complex shell company structures and trust accounts Mossack Fonseca services allow its clients to operate behind an often impenetrable wall of secrecy.

Mossack Fonseca's success relies on a global network of accountants and prestigious banks that hire the law firm to manage the finances of their wealthy clients. Banks are the big drivers behind the creation of hard-to-trace companies in tax havens. Commerzbank, HSBC and Societe Generale are all clients.

Much of the firm's work is perfectly legal and benign. But for the first time the leak takes us inside its inner workings, providing rare insight into an operation which offers shady operators plenty of room to manoeuvre.

The leak reveals the offshore holdings of 12 current and former world leaders including Iceland's Prime Minister Sigmundur David Gunnlaugsson, as well as relatives of Syria's President Bashar al-Assad, friends of Russian President Vladimir Putin and members of China's Communist Party elite.

As mentioned above, the Panama Papers include at least 780 names of individuals and another 50 names of companies based in Thailand. Some are foreigners or foreign-owned companies. There are 634 individual addresses listed in Thailand.

Twenty-nine Forbes-listed billionaires are also named in the leak.

You can find out more here: https://panamapapers.icij.org

[Prbkk]

The Panama Papers are pretty much confirming what the majority of us already thought in the first place, and I would be surprised if there were't well-known rich families, businessmen, celebrities, politicians and military officers on the list!

And, while the stuff hits the fan, let's just remember that the Panama Papers are sourced from just one law firm, in just one tax haven. This is most certainly the tip of the proverbial iceberg.

This is going to be fun to watch...

That is a bloody good point to be honest.

It will be sure that not everyone showing up in these lists will be identified, unless someone outside Thailand independently takes on that responsibility and spreads it all over the internet, as they may not be so ready to accept dirty brown envelopes as others. Not that I am suggesting that should happen, at all.

Oh, they'll be exposed, don't worry about that!

Hopefully something like this will happen:

http://www.abc.net.au/news/2016-04-05/icelandic-pm-refuses-to-resign-over-panama-papers-leak/7298944

"I'm not going to resign". He'll be gone by Friday, latest.

[macksview]

thanks james, keep it coming as you can.

[Katipo]

It's time for smoke and mirrors. Quickly build very public cases against the lesser connected to divert attention away from the really big fish, who as usual, will completely escape punishment.

[elgordo38]

Again please. What actions, other than waiting for information from foreign sources, is AMLO taking?

Oh, you didn't think AMLO was taking action 'against' these figures, did you?

They just want their slice of the pie. That'll be done in secret though.

Like the end of any good western movie the people on the list will ride off into the sunset minus a few sheckles. I am sure people on the list are already know to the AMLO. There will be a sweating period for the people on the list to increase "donations" and then the plate will be passed and the envelopes will silently be gathered. It will all fade away in due time. The sun will rise the next day life will carry on.

[GeorgesAbitbol]

"Twenty names of Thai nationals who included well-known rich families, businessmen, celebrities, politicians and military officers are said to be among the list. They are linked to 963 companies."

I bet some of them appear on TV regulary

[Thailand]

Shops running out of brown trousers?

[phoenixdoglover]

Repeat after me:

It was all perfectly legal...perfectly legal....perfectly legal.

Which may be true in many cases. Yet is also true that there are two financial games being played: the game played by the vast majority of people who are not rich; and the game played by the rich. This latter game is very well funded, and the players extremely well compensated. One might even say they are "blessed".

[reggaebkk]

The scary thing is that there's got to be dozens of similar companies, this is only the ice cube on top of the iceberg.

And even that ice cube's gonna be swept under the carpet eventually...

[HerbalEd]

This is going to be great fun to watch. I bet a lot of people out there are losing a lot of sleep right now. 555

[gandalf12]

Could this be the downfall of the high and mighty? I doubt if Panama will care about publishing the names of Thai's that have such accounts and it wont do a thing for Thailand to tell them they dont understand "Thainess"

[rubl]

"Twenty names of Thai nationals who included well-known rich families, businessmen, celebrities, politicians and military officers are said to be among the list. They are linked to 963 companies."

I bet some of them appear on TV regulary

'said to be'.

Since you're so explicit you might have mentioned 'police and military officers', just to show your objectivity

Interesting that till now the number of names 'confirmed' is somewhat minimal. Of course the alleged list is somewhat longer.

[rubl]

Repeat after me:

It was all perfectly legal...perfectly legal....perfectly legal.

Which may be true in many cases. Yet is also true that there are two financial games being played: the game played by the vast majority of people who are not rich; and the game played by the rich. This latter game is very well funded, and the players extremely well compensated. One might even say they are "blessed".

Indeed, it would be nice to be Amply Rich.

[gandalf12]

The Panama Papers are pretty much confirming what the majority of us already thought in the first place, and I would be surprised if there were't well-known rich families, businessmen, celebrities, politicians and military officers on the list!

And, while the stuff hits the fan, let's just remember that the Panama Papers are sourced from just one law firm, in just one tax haven. This is most certainly the tip of the proverbial iceberg.

This is going to be fun to watch...

That is a bloody good point to be honest.

It will be sure that not everyone showing up in these lists will be identified, unless someone outside Thailand independently takes on that responsibility and spreads it all over the internet, as they may not be so ready to accept dirty brown envelopes as others. Not that I am suggesting that should happen, at all.

Maybe Wikileaks has something

[rubl]

Here's a summary of the Panama Papers given by the Guardian

http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers

[brain150]

The Organisation that received the "Panama papers": ICIJ

Recent ICIJ funders include: Adessium Foundation, Open Society Foundations, The Sigrid Rausing Trust, the Fritt Ord Foundation, the Pulitzer Center on Crisis Reporting, The Ford Foundation, The David and Lucile Packard Foundation, Pew Charitable Trusts and Waterloo Foundation.

... well, so the socalled "elites" leak stuff and use it against everybody who is not in their club and

the lameshit media produces reports that go exactly in the direction these people want it to go [... like Putin .. what a surprise]

It's interesting that people still fall for this propaganda-lie-bs !!!

I thought people would be smarter by now.

The International Consortium of Investigative JournalistsThe International Consortium of Investigative JournalistsThe International Consortium of Investigative Journalists

[rubl]

From the German Newspaper where it started a year ago

"Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell companies enable their owners to cover up their business dealings, no matter how shady."

http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/