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Money Laundering

Execs from 2 banks to get AMLO summons for dereliction

Executives from two banks will be summoned by the Anti-Money Laundering Office (AMLO) for allegedly ignoring its request to investigate certain bank accounts over suspicions of money laundering, AMLO chief Pol Colonel Srihanat Prayoonrat said yesterday.

Since people behind call-centre scams and fraudulent transactions over social media and the Net use bank accounts to launder money, Sihanat said he felt uneasy about banks allowing criminals to conduct monetary transactions. He said this proved that banks did not implement measures outlined to check on customers, which later led to damages.

In 2013-14, there were 175 cases of fraud that caused more than Bt100 million in damage, however, two long-established banks let these suspects open accounts, he said. AMLO also found 559 suspicious accounts at these banks, he said.

He went to explain that AMLO would summon executives from two banks to emphasise the necessity of checking each and every customer's details and will also find out if banks face any obstacles in finding these details.


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