Max law firm is an international law firm serving foreigners and foreign business in Thailand. We have a team of well qualified and experienced lawyers that have earned their degrees from well recognized institutions. We provide you with legal service in which money laundering is included.
What does the law say
Money laundering has been a problem for Thailand. Money earned from drug trafficking, prostitution and corruption is illegal. SO in order to counter these problems Thailand has passed a law Act of 1999 called the anti money laundering law.
Anti money laundering law
The anti money laundering law was passed to tackle drugs trade, corruption and prostitution.
The primary Targeted Crimes?
1) Narcotics trafficking;
2) Prostitution and other sexual offenses;
3) Fraud against the public;
4) Fraud involving financial institutions;
5) Abuse of position by a government official;
7) Trade in contraband.
The law prohibits and states that it is a crime to transfer, convert or receive the transfer money or property coming from the above mentioned sources. In order to stop this, bank accounts are monitored, in which banks and financial institutions have to report all cash transactions over two million baht. and property transaction cash more than 5 million baht .