Thailand

New Documents

Thailand AMLO Reports on Financial Investigations, Asset Seizures

The Anti-Money Laundering Office in Thailand summarized its results for March 2024, stating that it seized 467 items of assets worth 301 million baht from 30 cases mostly involving fraud, drug trafficking, money laundering, illegal online gambling and public fraud.

April 4, 2024

Egmont Group Holds STR Workshop for Asia-Pacific Region

The Egmont Centre of Financial Intelligence Units Excellence and Leadership, in partnership with the Anti-Money Laundering Office in Thailand, held a virtual workshop on improving the quality of suspicious activity and transaction reports for the Asia and Pacific Region on March 7-8, 2024.

March 12, 2024

Thailand Addresses AML Risks of Myanmar

March 5, 2024

Thailand AMLO Announces Successful Asset Seizures

March 5, 2024

APG Re-Rates Thailand on Two FATF Recommendations

November 10, 2023

News

Midweek Roundup: Nigeria Prepares Binance Charges, ‘Micro-Debit’ Scheme Duped Banks, and More

Sanctions evaders adopt Tether, Gunvor settles bribery case, and more, in the midweek roundup.

April 3, 2024

Weekly Roundup: Former FBI Spy Hunter Sentenced, ‘Pig Butchering’ Scheme Dismantled, and More

Former IMF chief on trial, British sanctions agency withholds penalties, and more, in the weekly roundup.

December 15, 2023

Midweek Roundup: US Blacklists Chinese Companies Over Balloon Incursion, Another EU Lawmaker Charged in Bribery Probe, and More

February 15, 2023

Weekly Roundup: FinCEN Publishes Beneficial Ownership Access Rule, German FIU Chief Resigns, and More

December 16, 2022

Midweek Roundup: DOJ Outlines Compliance Certification Plan, Treasury Wants More Reporting on Russian Transactions, and More

March 23, 2022

Enforcement Actions

0 Items Found

Key Documents

Thai Government Issues Anti-Money Laundering Act, 1999

April 10, 1999

Thailand Amends AML Legislation

March 1, 2008

Thailand's Government Issues Amended AML Act, 2013

February 1, 2013

Thailand Enacts Counter Terrorism Financing Act

February 1, 2013

Thailand Prohibits Money Laundering, Creates AML Regulator

April 20, 1999

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 : 4	High : 0
Largely Compliant : 29	Substantial : 4
Partially Compliant : 6	Moderate : 4
Non-Compliant : 1	Low : 3

Thailand's technical compliance was re-rated in a Oct. 19, 2023 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