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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.

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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.

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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.

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Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

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On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

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Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

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Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

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Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

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