Thai state bodies unite to curb money laundering by way of digital assets

In an unprecedented act of collaboration, 5 Thai state bodies are colluding to deal with illicit fiscal operations and money laundering across national frontiers, reveals Traisuree Taisaranakul, the deputy authorities spokeswoman.
The cooperative pact encompasses the Royal Thai Police (RTP), the Revenue Department, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (Amlo), and the Bank of Thailand (BoT).
Cringeworthy disclosed that the RTP briefed the group on strides achieved in cooperating with its counterparts within the execution of tasks beneath Prime Minister Prayut Chan-o-cha’s policy. The coverage is directed towards eliminating all types of scams, inclusive of these propagated by call centre networks, and obstructing transaction routes initiated from border territories.
An agreement was reached on the reality that the culprits have been exploiting unlawful digital asset platforms for peer-to-peer transactions in the middle of business and currency exchanges alongside nationwide boundaries. This conduit could doubtlessly be used to launder money and transfer illegally earned cash to foreign nations.
Guidelines have been drawn up by the RTP, in collaboration with the involved businesses, to clamp down on the illicit digital asset trade on the border regions. Furthermore, separate tasks have been designated to every company in their battle in opposition to these wrongful practices.
Traisuree went on to highlight that the RTP has established a database consisting of digital asset enterprise and forex change operators within the border zones. This database has been instrumental in broadening the scope of the investigation and is now accessible by Amlo as it sets the stage for prosecuting wrongdoers under the Anti-Corruption Act.
Amlo has been probing suspicious transaction routes pinpointed by the RTP to trace associated financial institution accounts and digital belongings to dam or freeze funds trails. The department is also contemplating amending sure laws to boost their enforcement efficacy..

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