AMLO wants more groups to file reports
The government may soon order more groups and people to report their financial dealings, a top official revealed yesterday.
Secretary-general of the Office of the Narcotics Control Board Kitti Limchaikit said non-profit organisations, politicians, owners of gold and jewellery shops, plus antique dealers may be required to report transactions. He spoke after attending an Anti-Money Laundering Office (AMLO) board meeting. Broadening of transaction reporting would help stop terrorism allegedly funded by some non-profit organisations. The AMLO reporting requirement for shop owners and politicians was in line with United Nations' rules being applied in many countries, Kitti said. However, reports may only need to be done by people or groups with annual transactions of Bt100 million and more. Finance Minister ML Pridiyathorn Devakula said shop owners were happy to cooperate but legislative amendments "could take months". He added the law could be expanded later to capture the laundering of money by illegal lotteries.
Piyanart Srivalo The Nation
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