The Thai Anti-Money Laundering Act B.E. 2542 was recently amended. The new amendment makes changes to provisions to be in-line with the current anti-money laundering situation, to increase enforcement efficiency, and to conform to international standards.
Law No. 49/NA on Anti-Money Laundering and Combatting the Financing of Terrorism (âAML Lawâ), issued on 21 July 2014, took effect on 24 February 2015. The AML Law formulates the term, âreporting unitsâ, which may consist of both âfinancial sector institutionsâ and ânon-financial sector institutionsâ. âFinancial sector institutionsâ include: commercial…