Financial Crime World

Thailand’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regime

Overview

This report provides an overview of Thailand’s anti-money laundering (AML) and combating the financing of terrorism (CFT) regime. The report covers various aspects of AML/CFT in Thailand, including payment systems, mutual legal assistance treaties (MLATs), extradition statistics, and more.

Payment Systems in Thailand

Thailand has a well-developed payment system that includes various methods such as bank transfers, electronic funds transfer, and other payment methods. The country’s payment systems play a crucial role in facilitating financial transactions and preventing money laundering activities.

  • Bank Transfers: Bank transfers are one of the most common payment methods used in Thailand.
  • Electronic Funds Transfer (EFT): EFT is another popular payment method that allows for secure and efficient transfer of funds.
  • Other Payment Methods: Other payment methods such as credit cards, debit cards, and mobile payments are also widely used in Thailand.

Thailand has signed MLATs with several foreign countries to facilitate the exchange of information and evidence for money laundering and terrorist financing investigations. These treaties enable Thailand’s authorities to request assistance from foreign jurisdictions to investigate and prosecute AML/CFT cases.

  • Types of Requests: MLAT requests can be made for a variety of purposes, including:
    • Requesting information or documents
    • Requesting the presence of a person in court
    • Requesting the transfer of assets
    • Requesting other forms of assistance

Extradition Statistics

Thailand has extradited individuals to other countries for money laundering and terrorist financing offenses. The following are some statistics on extradition cases involving Thailand:

  • Number of Extraditions: In recent years, Thailand has extradited several individuals to foreign countries for AML/CFT-related offenses.
  • Countries Involved: Thailand has extradited individuals to various countries, including the United States, Australia, and European Union member states.

MLAT Requests Received from Foreign FIU

Thailand’s Financial Intelligence Unit (FIU) receives MLAT requests from foreign FIUs. The following are some statistics on MLAT requests received by Thailand’s FIU:

  • Number of Requests: In recent years, Thailand’s FIU has received several hundred MLAT requests from foreign FIUs.
  • Countries Involved: Thailand’s FIU receives MLAT requests from various countries, including the United States, Australia, and European Union member states.

Acronyms

The following is a list of acronyms used in this report:

  • AFET: Agricultural Futures Exchange of Thailand
  • AFTC: Agricultural Futures Trading Commission
  • AG: Attorney General
  • AIMC: Association of Investment Management Companies
  • AML/CFT: Anti-Money Laundering and Combating the Financing of Terrorism

Annexes

The following are two annexes included in this report:

Annex 1: Details of all bodies met on the on-site mission

This annex lists the organizations and government agencies that were visited during an on-site mission.

  • List of Bodies Visited: The following is a list of organizations and government agencies visited during the on-site mission:
    • Government agencies
    • Financial institutions
    • Law enforcement agencies
    • Other relevant bodies

Annex 2: List of all laws, regulations, and other material received

This annex provides a list of laws, regulations, and other materials related to AML/CFT in Thailand.

  • List of Laws and Regulations: The following is a list of laws and regulations related to AML/CFT in Thailand:
    • Anti-Money Laundering Act
    • Combating the Financing of Terrorism Act
    • Other relevant laws and regulations