Argos News

Thailand Will Establish AML Act to Satisfy FATF Recommendations

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Thailand will Establish Anti-Money Laundering Act to Satisfy FATF Recommendations (August ’19)

“Cryptocurrency will become a new tool for money laundering.”
-Thai Magistrate Preecha Charoensahayanon

Revised Anti-Money Laundering Law in Thailand

– Will include cryptocurrency in the current anti-money laundering system

– The establishment of a mandatory clause requiring abnormal behavior to be reported to the AMLO (Thai Anti-Money Laundering Office)

-The establishment of legal standards for cryptocurrency transaction service providers

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