Post by Soutpeel on Apr 7, 2016 8:01:35 GMT 7
Thai agencies, competent to trace money stashed abroad
THAI AGENCIES and legislation in the country are efficient enough to trace any illegal money and illegitimate activities revealed by the “Panama Papers,”a massive data leak that has hit dozens of celebrities and leaders worldwide, including in Thailand.
Deputy Prime Minister Wissanu Krea-ngam said the country's Anti-Money Laundering Office (AMLO) is empowered to investigate money stashed away illegally in offshore havens.
It's not necessarily so that the money kept in the firm in question is illegal, but "good people may not understand why some people use the services of a foreign firm to keep their money," he said. The so-called Panama Papers reportedly disclosed a list of 21 Thai nationals who used the services of Panama-based law firm Mossack Fonseca to conceal assets overseas. They include influential businessmen, bankers and other well-known figures.
Thai authorities have started investigations to see if Thai nationals have been involved in tax invasion, money laundering, tax evasion or other financial crimes in connection with the Panama Papers.
Wissanu, who oversees AMLO, said he has not yet received reports from AMLO about the names of Thai citizens possibly involved.
He said it was important to know how these people took such amounts of money out of the country. "To use the services of the firm to store the money is not considered money laundering unless the sum is illegally acquired. In that case, it can be called money laundering."
www.nationmultimedia.com/national/Thai-agencies-competent-to-trace-money-stashed-abr-30283435.html
THAI AGENCIES and legislation in the country are efficient enough to trace any illegal money and illegitimate activities revealed by the “Panama Papers,”a massive data leak that has hit dozens of celebrities and leaders worldwide, including in Thailand.
Deputy Prime Minister Wissanu Krea-ngam said the country's Anti-Money Laundering Office (AMLO) is empowered to investigate money stashed away illegally in offshore havens.
It's not necessarily so that the money kept in the firm in question is illegal, but "good people may not understand why some people use the services of a foreign firm to keep their money," he said. The so-called Panama Papers reportedly disclosed a list of 21 Thai nationals who used the services of Panama-based law firm Mossack Fonseca to conceal assets overseas. They include influential businessmen, bankers and other well-known figures.
Thai authorities have started investigations to see if Thai nationals have been involved in tax invasion, money laundering, tax evasion or other financial crimes in connection with the Panama Papers.
Wissanu, who oversees AMLO, said he has not yet received reports from AMLO about the names of Thai citizens possibly involved.
He said it was important to know how these people took such amounts of money out of the country. "To use the services of the firm to store the money is not considered money laundering unless the sum is illegally acquired. In that case, it can be called money laundering."
www.nationmultimedia.com/national/Thai-agencies-competent-to-trace-money-stashed-abr-30283435.html
