NCJ Number
214105
Date Published
December 2005
Length
15 pages
Annotation
This paper presents an overview of the enactment of the Anti-Money Laundering Act of B.E. 2542 in 1999 in Thailand which established the law enforcement agency known as the Anti-Money Laundering Office (AMLO) to develop effective countermeasures in the fight against money laundering in Thailand.
Abstract
The Anti-Money Laundering Act (AML) was enacted by the Government of the Kingdom of Thailand in 1999 creating a single law enforcement agency called the Anti-Money Laundering Office or AMLO with unprecedented investigatory powers. The AMLO began operations October 2000 and during that period through July 2004, it handled 294 cases, 140 cases have been ruled on by the court, and the rest are under consideration. In addition, the ACT criminalizes money laundering and related conspiracy and creates a civil forfeiture system. The ACT empowers the relevant authorities, especially the AMLO in taking effective countermeasures against money laundering and other illegitimate financing. This paper reviews the enactment of the AML and its establishment of the AMLO, its organization and functions, transaction reports, penalties, financial intelligence unit (FIU), and international cooperation.