What is money laundering?

Money laundering (Laundry) is done by any means. To conceal or disguise the true nature, acquisition, location, disposition, assignment of any property in connection with the offense to be viewed as a property legally acquired for the purpose of “dirty money”. Or money involved Or obtained from the commission of the offense to appear as “clean money” in order to be able to use the laundered money to be used in the commission of the crime.

What does “dirty money” come from?

Dirty money comes from various channels, which the AMLO has classified as a fundamental offense under the anti-money laundering laws, such as drug offenses. Offenses in human trafficking Offense relating to terrorism; offense to defrauding people Misappropriation of assets of financial institutions Offense to the position of government Offenses relating to extortion of a secret society or criminal association, etc.

How is money laundering about gold business?

Criminals and criminals use a variety of methods to launder money. One of the methods of money laundering is directly related to the gold business, ie dirty money is used to buy gold. Especially gold bars From the gold shop To take away And continue to sell The silver obtained from the sale of the gold will become clean silver. Reflects money laundering through our gold business. We must therefore recognize the importance of prevention. And cooperate closely with government officials to monitor suspected money laundering behavior. To free Thailand from being a country with a high risk of anti-money laundering. And against the financial support of terrorism By the Special Task Force to implement financial measures (Financial Task Force or FATF), which greatly affects the confidence in transactions with other countries.

What are the offenses of money laundering? And what are the serious penalties?

(1) transfer, accept, transfer or change the condition Property related to Offense To conceal or conceal the source of such property Or to help others before, during or after the commission of the offense Not to be punished Or receive less punishment for fundamental offenses, or

(2) do by any means To conceal or disguise the true nature, acquisition, location, disposal, assignment of any rights The property in connection with the offense

Offenders of money laundering shall be liable to imprisonment for a period of 1 year to 10 years or a fine of 20,000 baht to 200,000 baht or both.

What is the role of the gold business in the prevention and suppression of money laundering?

A professional trading gems, precious stones, gold or jewelry decorated with gems, precious stones or gold, classified as a professional under Section 16 (2) under the Anti-Money Laundering Act, B.E. 2542, has the duty to report cash transactions. And transactions with suspicious reasons to the AMLO Office

The transactions that gold traders must report are:

  • Cash transactions of 2 million baht or more
  • Suspicious transactions (Do not consider the credit limit) when the customer behaves suspicious of buying – selling gold. For money laundering Or to support terrorism, such as concealing the true owner of the money or conducting transactions that are inconsistent with the customer’s status, etc.

In addition to the transaction reporting function Gold trader Also has the duty to check transactions And help prevent money laundering By providing customers with identification before the transaction and verifying the facts about the customer (from 100,000 baht or more) and keeping details about the presence and factual records of the customer transactions. To cooperate with AMLO in the provision of customer information in case of suspicious reasons. The basic information that you should know is Information in the customer’s national ID card, address and contact telephone number

 

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