Thailand s Anti-Money Laundering Measures in Compliance with the UN Convention against Corruption

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Advancement of AML Measures in Thailand

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Pol. Col. Seehanat Prayoonrat, Ph.D. (Law) Acting Secretary-General AMLO, Thailand's Anti-Money Laundering Measures in Compliance with the UN Convention against Corruption

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Development of AML Measures in Thailand & UNCAC Corruption issue has been ascending on the worldwide motivation and has remained in the concentration of the world society for a long time. Perceived universally as a wrongdoing that not just damages the straightforwardness picture and notoriety of locales additionally ruins their practical improvement financially, socially, politically and furthermore as far as their administration.

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Proceeds from debasement can be washed anyplace on the planet and in the quantity of ways utilizing high or new advances or complex techniques to stay away from recognition from capable experts. One successful measure to battle defilement is AML measures. The AML measures make channels of sharing data and local and universal participation that assistance to follow these unlawful assets. Defilement and tax evasion have a linkage. Consequently, the measures to anticipate illegal tax avoidance was set up in the UNCAC Articles 14, 23, 24, 31.

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UNCAC Article 14 1. Each State Party should: (an) Institute a far reaching residential administrative and supervisory administration for banks and non-bank monetary foundations, including regular or legitimate people that give formal or casual administrations to the transmission of cash or esteem and, where fitting, different bodies especially powerless to tax evasion, inside its capability, to prevent and recognize all types of illegal tax avoidance, which administration might stress necessities for client and, where proper, gainful proprietor distinguishing proof, record-keeping and the detailing of suspicious exchanges; (b) Without preference to article 46 of this Convention, guarantee that managerial, administrative, law implementation and different specialists devoted to fighting tax evasion (counting, where suitable under local law, legal experts) can collaborate and trade data at the national and worldwide levels inside the conditions recommended by its local law and, with that in mind, should consider the foundation of a budgetary knowledge unit to fill in as a national place for the gathering, investigation and dispersal of data in regards to potential tax evasion. 2. States Parties should consider actualizing plausible measures to recognize and screen the development of money and fitting debatable instruments over their outskirts, subject to protections to guarantee appropriate utilization of data and without hindering in any capacity the development of genuine capital. Such measures may incorporate a prerequisite that people and organizations report the cross-fringe exchange of significant amounts of money and proper debatable instruments.

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UNCAC Article 14 (Cont.) 3. States Parties might consider actualizing suitable and plausible measures to require monetary organizations, including cash remitters: (a) To incorporate on structures for the electronic exchange of assets and related messages precise and significant data on the originator; (b) To keep up such data all through the installment chain; and (c) To apply upgraded investigation to exchanges of assets that don't contain finish data on the originator. 4. In setting up a residential administrative and supervisory administration under the terms of this article, and without preference to whatever other article of this Convention, States Parties are called upon to use as a rule the applicable activities of provincial, interregional and multilateral associations against illegal tax avoidance. 5. States Parties should Endeavor to create and advance worldwide, territorial, sub local and respective collaboration among legal, law requirement and monetary administrative experts keeping in mind the end goal to battle illegal tax avoidance.

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UNCAC Article 23 (an) (i) The transformation or exchange of property, realizing that such property is the returns of wrongdoing, with the end goal of hiding or camouflaging the illegal starting point of the property or of helping any individual who is included in the commission of the predicate offense to dodge the legitimate outcomes of his or her activity; (ii) The covering or mask of the genuine nature, source, area, mien, development or responsibility for rights as for property, realizing that such property is the returns of wrongdoing; (b) Subject to the essential ideas of its lawful framework: (i) The securing, ownership or utilization of property, knowing, at the season of receipt, that such property is the returns of wrongdoing; (ii) Participation in, relationship with or connivance to confer, endeavors to submit and supporting, abetting, encouraging and advising the commission of any of the offenses set up as per this article. … .

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UNCAC Article 24 Provisions about camouflage of continues of wrongdoing and requires a State Party to set up as a criminal offense, when "committed purposefully after the commission of any of the offenses built up as per this Convention without having taken an interest in such offenses, the disguise or proceeded with maintenance of property when the individual included realizes that such property is the aftereffect of any of the offenses set up as per this Convention… "

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UNCAC Article 31 Freezing, seizure and reallocation measures as instruments of AML to disturb debasement movement from the advantage of their unlawful continues.

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Other traditions identified with ML The United Nations Convention against Illicit Trafficking in Narcotic Drugs and Psychotropic Substances (Vienna Convention 1988) The United Nations Convention against Transnational Organized Crime (Palermo Convention)

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Anti-Money Laundering Office AMLO fills in as Financial Intelligence Unit and law implementation organization in Thailand.

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The Anti-Money Laundering Act B.E. 2542 (1999) ONCB 8 March 1995 Cabinet 2 July 1996 Council of State 23 September 1996 Cabinet June 1997 Joint Commission of House of Representatives and Senate 8 August 1997 Prime Minister Submitted to H.M. the King 1 April 1999 Parliamentary Approval 17-19 March 1999 H.M. the King marked 10 April 1999 AMLA No. 3 Published in Government Gazette 22 July 2009 and viable 120 days after its production AMLA No. 2 March 2008 Published in Government Gazette 21 April 1999 Effective 19 August 1999

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Overview of the AMLA 1999 Chapter 1: General Provisions (Section 5-12) Chapter 2: Report and Identification (Section 13-23) Chapter 3: Anti-Money Laundering Board (Section 24-31) Chapter 4: Transaction Committee (32-39) Chapter 5: Anti-Money Laundering Office (Section 40-47) Chapter 6: Assets Management (Section 48-59) Chapter 6/1:Anti-Money Laundering Fund (Section 59/1-59/7) Chapter 7: Penalties (Section 60-68)

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Legal Measures AMLA gives unique lawful measures as takes after; Criminal Measure – criminal offense of illegal tax avoidance incorporates helping and abetting the commission of the offense or helping the guilty party before or at the season of the commission of the offense, Civil relinquishment strategies under Chapter 6

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AMLA Section 40 to do acts in the usage of resolutions of the Board and the Transaction Committee and perform other managerial assignments; to get exchange reports submitted under Chapter II and recognize receipt thereof and also get reports and data identified with exchanges from different sources; to get or send reports or data identified with exchanges keeping in mind the end goal to consent to this Act or different laws; to gather, accumulate, follow, look at, study, assess and examine reports and data regarding the making of exchanges; to assemble confirm with the end goal of taking lawful procedures against wrongdoers under this Act; to direct ventures as to the spread of learning, the giving of instruction and the preparation in the fields including the execution of this Act, or to give help or support to both Government and private divisions in arranging such activities; and to play out whatever other demonstrations under this Act or under different laws.

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AMLA Section 3(5) The offense identifying with wrongdoing in office or misbehavior in legal office under the Penal Code, offense under the law on offenses of authorities in State associations or offices or offense of impropriety in office or defilement under different laws. Since 2009 there have been 53 debasement cases under AMLO examination, and the aggregate number of cases identifying with defilement from 1999 is around 600 cases with the property included worth around 250 million Baht.

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AML as one of the Preventive Measures against Corruption FIs and DNFBPs are frequently utilized as a part of illegal tax avoidance exchanges Rules and directions for AML deterrent measures are basic to shield the budgetary framework and DNFBPs from the manhandle of tainted individuals. Precaution measures can be utilized as a part of the counteractive action and concealment of debasement related offenses.

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FATF AML/CFT protection measures Provisions for law-authorization and interior review systems P rovisions for measures to seize/solidify and reallocate resources increased through medication Provisions for KYC/CDD techniques for FIs and DNFBPs Provisions for FIs and announcing elements to report suspicious exchange/action to FIU

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FATF AML/CFT precaution measures (Cont.) Provisions empowering both residential and global participation in law implementation in all perspectives Provisions for control of electronic exchanges and also assertion and divulgence of cross-fringe development of money

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FATF Rec. 6 Financial foundations ought to be required to have set up suitable hazard administration frameworks to recognize and treat Politically Exposed Persons (PEPs). As indicated by