Financial Crime World

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THAILAND TAKES STEPS TO COMBAT FINANCIAL CRIME

Bangkok, Thailand - The Thai government has introduced several measures to prevent and combat financial crime in the country.

Establishment of Technology Crime Division

The Thai government has established the Technology Crime Division within the Criminal Court, which began operations on April 1, 2024. This division is empowered to consider and adjudicate technology crime cases, including:

  • Intellectual property infringement
  • Online piracy

This move is expected to expedite the approval process for blocking infringing websites and ensuring review by specialized judges.

Increased Regulatory Scrutiny for Technology Companies

Thailand has introduced regulations aimed at preventing technology companies from engaging in financial crimes such as:

  • Money laundering
  • Terrorism financing

The country’s Computer-Related Crime Act, which was amended in 2017, empowers government officials to request court orders to block computer data that infringes on other parties’ intellectual property rights.

Investigation and Prosecution of Financial Crimes

The Thai authorities have increased their efforts to investigate and prosecute financial crimes. In recent years, the country has seen a significant increase in the number of cases related to:

  • Money laundering
  • Terrorism financing
  • Other financial crimes

Enhanced Cooperation with International Partners

Thailand is also enhancing its cooperation with international partners to combat financial crime. The country has signed several agreements with other countries and international organizations to share intelligence and best practices in preventing and combating financial crime.

Conclusion

The Thai government’s efforts to prevent and combat financial crime are a positive step towards ensuring the integrity of the country’s financial system. By introducing new regulations, enhancing investigation and prosecution efforts, and cooperating with international partners, Thailand is demonstrating its commitment to tackling financial crimes and protecting its citizens’ interests.