Thailand

New Documents

The Egmont Group’s Centre of FIU Excellence and Leadership hosted a workshop on Financial Investigations in Wildlife and Forestry Crime in order to facilitate cooperation among various agencies to combat illicit financial flows linked to wildlife trafficking.

The Bank of Thailand published its Strategic Plan for the years 2020 to 2022, summarizing the central bank’s regulatory goals and foundations for its operations surrounding economic stability.

News

Enforcement Actions

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Important Facts

  • The U.S. Department of State classifies Thailand as a major money laundering jurisdiction. Thailand is particularly vulnerable to money laundering due to its porous borders, economy and uneven law enforcement. It is a source, transit, and destination country for illicit narcotics trafficking, wildlife trafficking and other contraband smuggling. Various sources of illicit proceeds include illegal gaming, official corruption, underground lotteries, and prostitution all of which are laundered through the country’s financial system. Funds are often transported across Thailand's four land borders through its airports and seaports, banks, non-financial institutions, and businesses. In the informal money changing sector, hawaladars service Middle Eastern travelers in Thailand. Thai and Chinese underground remittance systems are also prevalent. Thailand has numerous unlicensed, unregulated, informal remittance systems. The country's anti-money laundering compliance regime focuses on non-conviction-based asset seizure and forfeiture.
Source: 2020 International Narcotics Control Strategy Report (INCSR)  

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 3 High : 0
Largely Compliant : 24 Substantial : 4
Partially Compliant : 12 Moderate : 4
Non-Compliant : 1 Low : 3

Thailand's technical compliance was re-rated in a Sept. 5, 2018 follow-up report

BASEL i

Rank : 31/125
Score : 6.22/10

TRANSPARENCY INTERNATIONAL i

Rank : 101/180
Score : 36/100

Tax Justice Network i

Rank : 17/133
Score : 73/100