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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.

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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Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

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The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

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