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Thailand :, Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

Label
Thailand :, Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
Language
eng
Abstract
This Detailed Assessment Report focuses on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Thailand. The report discusses that Thailand has a legal framework in the Anti-Money Laundering Act 1999 (AMLA) around which the core elements of its AML/CFT regime are established. The AMLA criminalizes money laundering by reference to eight predicate offenses and establishes the Anti-Money Laundering Office (AMLO) as Thailand’s financial intelligence unit. It imposes some customer due diligence obligations on a wide range of financial institutions (FIs) and requires these FIs to report transactions to the AMLO
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
Thailand :
Nature of contents
dictionaries
Series statement
IMF Staff Country Reports
Sub title
Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
Table Of Contents
CONTENTS; ACRONYMS; PREFACE; EXECUTIVE SUMMARY; DETAILED ASSESSMENT REPORT; 1 GENERAL; 1.1 GENERAL INFORMATION ON THE KINGDOM OF THAILAND; Statistical Tables; 1.2 GENERAL SITUATION OF MONEY LAUNDERING AND FINANCING OF TERRORISM; 1.3 OVERVIEW OF THE FINANCIAL SECTOR; 1.4 OVERVIEW OF THE DNFBP SECTOR; 1.5 OVERVIEW OF COMMERCIAL LAWS AND MECHANISMS GOVERNING LEGAL PERSONS AND ARRANGEMENTS; 1.6 OVERVIEW OF STRATEGY TO PREVENT MONEY LAUNDERING AND TERRORIST FINANCING; 2 LEGAL SYSTEM AND RELATED INSTITUTIONAL MEASURES; LAWS AND REGULATIONS; 2.1 CRIMINALIZATION OF MONEY LAUNDERING (R.1 & 2)2.1.1 Description and Analysis2.1.2 Recommendations and Comments; 2.1.3 Compliance with Recommendations 1 & 2; 2.2 CRIMINALIZATION OF TERRORIST FINANCING (SR.II); 2.2.1 Description and Analysis; 2.2.2 Recommendations and Comments; 2.2.3 Compliance with Special Recommendation II; 2.3 CONFISCATION, FREEZING AND SEIZING OF PROCEEDS OF CRIME (R.3); 2.3.1 Description and Analysis; 2.3.2 Recommendations and Comments; 2.3.3 Compliance with Recommendation 3; 2.4 FREEZING OF FUNDS USED FOR TERRORIST FINANCING (SR.III); 2.4.1 Description and Analysis; 2.4.2 Recommendations and Comments2.4.3 Compliance with Special Recommendation IIIAUTHORITIES; 2.5 THE FINANCIAL INTELLIGENCE UNIT AND ITS FUNCTIONS (R.26); 2.5.1 Description and Analysis; Figures; 2.5.2 Recommendations and Comments; 2.5.3 Compliance with Recommendation 26; 2.6 LAW ENFORCEMENT, PROSECUTION AND OTHER COMPETENT AUTHORITIES - THE FRAMEWORK FOR THE INVESTIGATION AND PROSECUTION OF OFFENCES, AND FOR CONFISCATION AND FREEZING (R.27, & 28); 2.6.1 Description and Analysis; 2.6.2 Recommendations and Comments; 2.6.3 Compliance with Recommendations 27 & 28; 2.7 CROSS BORDER DECLARATION OR DISCLOSURE (SR.IX)2.7.1 Description and Analysis2.7.2 Recommendations and Comments; 2.7.3 Compliance with Special Recommendation IX; 3 PREVENTIVE MEASURES - FINANCIAL INSTITUTIONS; CUSTOMER DUE DILIGENCE & RECORD KEEPING; 3.1 RISK OF MONEY LAUNDERING OR TERRORIST FINANCING; 3.2 CUSTOMER DUE DILIGENCE, INCLUDING ENHANCED OR REDUCED MEASURES (R.5 TO 8); 3.2.1 Description and Analysis; 3.2.2 Recommendations and Comments; 3.2.3 Compliance with Recommendations 5 to 8; 3.3 THIRD PARTIES AND INTRODUCED BUSINESS (R.9); 3.3.1 Description and Analysis; 3.3.2 Recommendations and Comments3.3.3 Compliance with Recommendation 93.4 FINANCIAL INSTITUTION SECRECY OR CONFIDENTIALITY (R.4); 3.4.1 Description and Analysis; 3.4.2 Recommendations and Comments; 3.4.3 Compliance with Recommendation 4; 3.5 RECORD KEEPING AND WIRE TRANSFER RULES (R.10 & SR.VII); 3.5.1 Description and Analysis; 3.5.2 Recommendations and Comments; 3.5.3 Compliance with Recommendation 10 and Special Recommendation VII; UNUSUAL AND SUSPICIOUS TRANSACTIONS; 3.6 MONITORING OF TRANSACTIONS AND RELATIONSHIPS (R.11 & 21); 3.6.1 Description and Analysis; 3.6.2 Recommendations and Comments3.6.3 Compliance with Recommendations 11 & 21
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