Thailand Proposes a New Money Laundering Law

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Wednesday, June 1, 1994
Author: 
Scott MacDonald
Volume: 
10
Issue: 
6
216
Abstract: 
Despite the slow way that it has tackled drug money laundering in the past, the Royal Thai Government seems to be adopting a tougher approach to tackling drug trafficking with its consideration the drafting an anti-money laundering law. The new proposed legislation is expected to empower the government to check into the financial records of individuals suspected of involvement in the narcotics trade and to confiscate any money discovered to have been derived from drug sales. The Office of the Narcotics Control Board (ONCB) is in the process of coordinating with government organizations to draw up the new law. This and other measures come in response to growing regional pressures for economic integration and democratization?[more]