Amended Anti-Money Laundering Act to include IPR violations
January 28, 2013 00:00
Producers of fake goods will soon face serious punishment under an amendment of the Anti-Money Laundering Act, which should be enforced this year.
Deputy Commerce Minister Natthawut Saikua said Monday that the revision would include infringement of intellectual-property rights (IPR).
Under the law, assets of violators and unscrupulous businesses involved with illegal production and trading of goods would be seized. Last year saw about 50 such cases with more than Bt500,000 in alleged losses to legitimate businesses.
The amended act was recently passed by Parliament and is awaiting the royal signature.