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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.

Published

3 weeks ago

September 29, 2020

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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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Related Topics:bangkok bank bank of thailand commercial-banks

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