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Phayong Sriwanich, Chairman of the Thailand Bankers Association Confirm that all banks comply with The AMLO is strictly
In the case of news reports on the International Association of Investigative Journalists (ICIJ) website, many financial institutions in various countries, including four banks in Thailand, have been involved in suspicious remittance transactions since 1999.
The ICIJ claims to be from a document from the United States Financial Crimes Enforcement Network (FinCEN).
More recently, on September 24, 2020, Mr. Phayong Srivanich, Chairman of the Bankers Association of Thailand, revealed that the Bankers Association of Thailand and the member banks attach great importance to the rules and guidelines of the Anti-Banking Law. money laundering o AMLO has always been strictly
All banks have established policies and procedures that comply with international laws and standards. That it has a process to get clients and prove their identity. Review of the client list and the list of countries that prohibit transactions (sanction). Risk management measures.
In addition to continuously reviewing customer transactions Including reporting unusual or suspicious transactions to the Office for the Fight against Money Laundering (AMLO)
In addition, the Bankers Association of Thailand has attached importance to establishing a banking system standard in accordance with the announcement of the Industry Code of Conduct for all banks to apply. This standard includes compliance with the Anti-Money Laundering Law.
For such cases, the Bankers Association of Thailand has coordinated with the relevant regulators. Both the Bank of Thailand (BOT) and AMLO have been closely examining the baseline information that is not yet known for its accuracy. And clear information document details
It is only assumed that if obtained from FinCen, it would be a suspicious transaction report from a US financial institution Under US law What is a normal operating process It does not mean that reported transactions are always involved in illegal activity. As the Bank of Thailand has previously provided details
While Mr. Chaturong Chantarang, Deputy Governor of Financial Institutions Supervision 1, said that the information was provided by financial institutions under US law. You have a duty to report suspicious transactions to FinCen on a regular basis in accordance with established guidelines. It does not mean that the reported transactions are always involved in illegal activities. Therefore, it is requested that this matter awaits inspection by the relevant departments first.
“During the past, the BOT has established guidelines for the supervision and examination of financial institutions. The process of knowing the identity of the client Auditing and reporting suspicious transactions are strictly in accordance with the regulations established by AMLO and the BOT and AMLO have always coordinated to closely monitor this matter. ”
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