‘ High-risk ‘ applicants may become deferred
PUBLISHED: 2 Jan 2025 at 04: 00
In an effort to reduce financial crime, the government is tying information on people who have been identified as high-risk for cash laundering to candidates for legal entity licenses. Starting yesterday, programs with titles that are on the high-risk list may be deferred, requiring legitimate supporting documents.
According to Deputy state spokesman Karom Phonphonklang, fraud involving scammers who use legal entity licenses to deceive the public by leveraging businesses ‘ credibility and operational flexibility is a serious issue that the government is immediately addressing.
For swindlers frequently open bank accounts using legal entity subscription documents, allowing them to get money while avoiding bank financial attention.
This kind of fraud has seriously harmed Thailand’s monetary system and endangered the security of its citizens ‘ resources. It is a pressing concern that the authorities, in cooperation with several agencies, is working to prevent and curb, Mr Karom said.
High-risk individuals for money laundering ( HR-03 ) were recently combined with the Anti-Money Laundering Office ( Amlo ).
Mr. Karom explained that a supervisor or board member’s name on a legal entity registration application may be postponed if their name matches that on the HR-03 list.
The person may therefore provide upstanding supporting files. If these are not provided, the software will be denied. This estimate took influence yesterday.
” This order is an extra measure to address fraud at its core, preventing swindlers from exploiting the legitimate institution membership process,” he said.
The integration of field inspections and data sharing with organizations like the Central Investigation Bureau ( CIB ) will help stop these activities while safeguarding Thailand’s economy and its citizens.
Auramon Supthaweethum, director-general of the DBD, said the ministry just linked the HR-03 information from Amlo through the Anti-Online Scam Operation Centre.
The HR-03 roster includes people identified as high-risk for money laundering and requiring near monitoring.
Moreover, the department has issued an order clarifying the rules for the registration of limited companies and partnerships involving individuals on Amlo’s record.
Registrars can confirm legal entity registration applications that have been submitted in person or online thanks to this order. Registration officials are required to verify that the labels on an app match those on Amlo’s HR-03 record.
If a label on the HR-03 listing is found in an application, the person may verify their identity by providing appropriate documents, such as an ID cards, government official card, state enterprise employee card, mysterious certificate or passport.
The registrar has the right to decline a request if the applicant fails to appear for or provide the requested documents.