Thailand must extend its anti-money laundering regulations to nonbank institutions and adopt stronger enforcement measures to meet global AML standards, the International Monetary Fund said. The Southeast Asia nation must also increase the number of crimes that qualify as predicate offenses to laundering in order to effectively combat a money laundering problem that equates to as much as 5.1 percent of its gross domestic product of nearly $600 billion, according to an IMF report issued Wednesday. In addition, Thailand is struggling to implement AML measures regarding politically exposed persons, correspondent banking relationships, high-risk countries and shell banks, areas that require...
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