Connect with us
The clever new way to send money abroad

Business

AMLO is investigating four Thai banks’ alleged role in suspicious transactions

Thailand’s Anti-Money Laundering Office (AMLO) is verifying a report, by the International Consortium of Investigative Journalists (ICIJ), stating that four Thai banks have been involved in suspicious financial transactions over nearly two decades.

Published

on

The ICIJ’s report refers to files leaked from the Financial Crimes Enforcement Network in the US. They allegedly indicate that many commercial banks worldwide turned a blind eye to suspicious transactions between 1999 and 2017.

The International Consortium of Investigative Journalists (ICIJ), says that four Thai banks have been involved in suspicious financial transactions, worth about 41.31 billion baht, over nearly two decades.

Responding to the ICIJ report, AMLO Acting Secretary-General Pol Maj-Gen Preecha Charoensahayanont said today that checking suspicious financial transactions is a normal practice of AMLO, as he asked for time to verify the report.

Meanwhile, it is reported that, since the 1997 financial crisis, the Bank of Thailand has demanded information from commercial banks about their credit transactions, for risk analysis of financial institutions and economic stability.

The central bank has not, however, demanded information about financial transfers, but AMLO has been doing the risk analysis of suspicious transactions, particularly “loop” digital banking accounts.

The post AMLO is verifying reports of four Thai banks’ alleged role in suspicious transactions first appeared on Thai PBS World : The latest Thai news in English, News Headlines, World News and News Broadcasts in both Thai and English. We bring Thailand to the world.

Source link

Click to comment

Leave a Reply

Business

China’s economy stumbles on power crunch

Published

on

BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks and major wobbles in the property market and raising pressure on policymakers to do more to prop up the faltering recovery.

(more…)
Continue Reading

Business

Thailand aims to push its games and content industry

After almost a year under the pandemic, the number of game players in Thailand rose to 32 million and helped the market generate over a billion dollars in 2020, according to NewZoo, an international analytics and market research group.

Published

on

Currently, key digital organizations involved in the economy are joining forces to push the Thai gaming industry, so as to attain the level of a regional hub.

(more…)
Continue Reading

Most Read

Recent