NCJ Number
210209
Date Published
March 2005
Length
50 pages
Annotation
This article reviews the anti-money laundering initiatives undertaken in Thailand.
Abstract
In 1999, Thailand enacted its Anti-Money Laundering Act, which grew as a result of the United Nations Vienna Convention in 1988. The article discusses the sections included in the Anti-Money Laundering Act; the sections cover topics such as reporting and identification, the Money Laundering Control Board, the Business Transaction Committee, the Anti-Money Laundering Office, procedures concerning properties, and penalties. Following the detailed description of relevant sections of the Act, the article goes on to discuss the responsibilities of the Financial Intelligence Unit in Thailand, which comprise receiving and storing electronic transactions reports from financial institutions and analyzing suspicious transactions. Next, the “war against drugs in Thailand,” is described, including short-term, medium-term, and long-term plans to eradicate the increasing drug problem in this country. Thailand has also intensified its efforts related to counterterrorism through the implementation of several strategies designed to prevent terrorism financing and strengthen aviation and maritime security. The author analyzes how well Thailand is complying with the eight special recommendations of the Financial Action Task Force (FATF) for detecting, preventing, and suppressing the financing of terrorism and terrorist acts. Thailand’s policy of condemning terrorism in all forms has assured that this country has taken every measure to ensure that Thailand will not be used as a safe haven for terrorists. Exhibits