ID :
184374
Wed, 05/25/2011 - 15:03
Auther :
Shortlink :
http://m.oananews.org//node/184374
The shortlink copeid
Thailand's commercial banks to report financial movements to AMLO
BANGKOK, May 25 (TNA) - Regarding calls for concerned authorities to watch out for irregular movements of money ahead of Thailand's July 3 national election, Tawatchai Yongkittikul, Secretary-General to the Thai Bankers’ Association, said Wednesday that local commercial banks are normally monitoring every movement of over 2 million baht in cash and they are also following every smaller amount which might have an unusual movement.
For example, the banks are monitoring more closely any business which transfers more amounts of money or makes more and dubious transactions. Tawatchai insisted that the commercial banks would then report their findings to Thailand's Anti-Money Laundering Office or AMLO for possible investigation as they are not authorized to launch any probe themselves.
Meanwhile, Krirk Vanikkul, Deputy Governor of the Bank of Thailand or BOT for Financial Institutions Stability, said that the central bank has also asked the commercial banks to quickly meet requests for the opening of new bank accounts and to officially report transactions, through the bank accounts, of local political candidates. (TNA)
For example, the banks are monitoring more closely any business which transfers more amounts of money or makes more and dubious transactions. Tawatchai insisted that the commercial banks would then report their findings to Thailand's Anti-Money Laundering Office or AMLO for possible investigation as they are not authorized to launch any probe themselves.
Meanwhile, Krirk Vanikkul, Deputy Governor of the Bank of Thailand or BOT for Financial Institutions Stability, said that the central bank has also asked the commercial banks to quickly meet requests for the opening of new bank accounts and to officially report transactions, through the bank accounts, of local political candidates. (TNA)
