Thailand

New Documents

Thailand’s Anti-Money Laundering Office announced that Wissanu Krea-ngam, the country’s Deputy Prime Minister, chaired a virtual meeting with the Steering Committee for Anti-Money Laundering and Counter-Terrorism Financing concerning the country’s strategy for combating such crimes.

Thailand’s Anti-Money Laundering Office issued a series of temporary asset freeze and seizure orders against individuals and an entity under investigation for committing money laundering.

News

Enforcement Actions

0 Items Found


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 : 33/141
Score : 6.01/10

TRANSPARENCY INTERNATIONAL i

Rank : 101/180
Score : 36/100

Tax Justice Network i

Rank : 17/133
Score : 73/100