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[jacko45k]

laurentbkk, on 2012-02-17 16:32:09, said:

thats a sad news for Thailand , lets hope this government will act in a serious way . ( yeah I know I can dream on this) But knowing the country I already hear the comments ... There are no terrorism in Thailand , no money laundering , no prostitution , no corruption ( did I forget anything ?)

I am inclined to think Thailand is in a better financial position that many of these countries that meet 'International Standards'
And I am not sure Italy behaves so well either.

It is a joy that I can send money to and from Thailand without a third degree.

[maidu]

Anyone got too much money and wants to launder some with me? I've got room in my washing machine.  Send me a note.  Discretion paramount.

[MonsterP]

So does this mean that when we try to transfer our hard earned funds out of TH to offshore they will be blocked or limited?  I.e. legitimate savings deposited and currently kept in a Thai bank account.

Anyone got any factual information please?!?  :-)

[sparebox2]

Thaksin must be number one on the list.

[zachlsd]

No more killing in the south. No more poor farmers getting cheated on their crops namely rice. No more dams. No more deforestation. No more senseless political muders. No more 16yr old drivers.  No more self-exhiled DBs playing god. No more line cutting. No more underage prostitures. No more fraudulent NGOs. No more national park encroachment. No more ice from the burmese army. No more corruption on every level from soi dogs ruling sois to politicians selling people n drugs. No more shinawatra soap operas. No more than 5 chilis in my somtom. And please...no more seeds in the weed.

[sparebox2]

zachlsd, on 2012-02-18 09:27:37, said:

No more killing in the south. No more poor farmers getting cheated on their crops namely rice. No more dams. No more deforestation. No more senseless political muders. No more 16yr old drivers.  No more self-exhiled DBs playing god. No more line cutting. No more underage prostitures. No more fraudulent NGOs. No more national park encroachment. No more ice from the burmese army. No more corruption on every level from soi dogs ruling sois to politicians selling people n drugs. No more shinawatra soap operas. No more than 5 chilis in my somtom. And please...no more seeds in the weed.

No more 16yr old drivers? The poor girl you refered to that caused 9 death was 17+.

[zachlsd]

I was talking about the multitudes of 16yr old drivers in LOS...not the 17yr old from the rich and afluent family that got away with murder...but no more of that crap too.
.
damned if you do, damned if you dont.

Edited by zachlsd, 2012-02-18 09:38:21.

[travelmann]

Misterwhisper, on 2012-02-17 17:04:54, said:

laurentbkk, on 2012-02-17 16:32:09, said:

thats a sad news for Thailand , lets hope this government will act in a serious way . ( yeah I know I can dream on this) But knowing the country I already hear the comments ... There are no terrorism in Thailand , no money laundering , no prostitution , no corruption ( did I forget anything ?)

...no hypocrisy, no ineptitude, no racism, no double standards, no cronyism, no social disparagies, no anal retentiveness, no holier-than-thou attitudes, no taxi mafia, no jet ski scams, no gem scams, no red-tape bureaucracy (did I forget anything?).

Yeah "no hope" for change anyway!!

[rakman]

TallGuyJohninBKK, on 2012-02-17 19:46:45, said:

Here's the correct latest list from the organization's website. Quite good company Thailand is keeping there in its little League of Nations.

Quote

Paris, 16 February 2012 -  The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT) . In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the FATF identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.
  
Jurisdictions subject to a FATF call on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from the jurisdictions*.
  

Iran

Democratic People's Republic of Korea (DPRK)  
  

Jurisdictions with strategic AML/CFT deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies**. The FATF calls on its members to consider the risks arising from the deficiencies associated with each jurisdiction, as described below.

Cuba**
Bolivia

Ethiopia

Ghana

Indonesia
Kenya
Myanmar
Nigeria
Pakistan
São Tomé and Príncipe

Sri Lanka

Syria

Tanzania

Thailand

Turkey

http://www.fatf-gafi...1_1_1_1,00.html

Be careful with whom you stand by.

[rakman]

MonsterP, on 2012-02-18 08:59:00, said:

So does this mean that when we try to transfer our hard earned funds out of TH to offshore they will be blocked or limited?  I.e. legitimate savings deposited and currently kept in a Thai bank account.

Anyone got any factual information please?!?  :-)

Its coming.  Italy proposed a downward limit on cash transaction size to increase tax revenue.   Eventually, the world will catch on and cash will become a thing of the past.

[travelmann]

jacko45k, on 2012-02-18 08:34:37, said:

laurentbkk, on 2012-02-17 16:32:09, said:

thats a sad news for Thailand , lets hope this government will act in a serious way . ( yeah I know I can dream on this) But knowing the country I already hear the comments ... There are no terrorism in Thailand , no money laundering , no prostitution , no corruption ( did I forget anything ?)

I am inclined to think Thailand is in a better financial position that many of these countries that meet 'International Standards'
And I am not sure Italy behaves so well either.

It is a joy that I can send money to and from Thailand without a third degree.

Is  that because they havent paid back all the money they borrowed from the 97 crash?

[eddi]

If Thailand has a "crackdown" on money laundering where will the Russians go?

[TallGuyJohninBKK]

MonsterP, on 2012-02-18 08:59:00, said:

So does this mean that when we try to transfer our hard earned funds out of TH to offshore they will be blocked or limited?  I.e. legitimate savings deposited and currently kept in a Thai bank account.

Anyone got any factual information please?!?  :-)

To the average citizen, it means nothing right now.. This organization is just advisory. It doesn't have any authority to impose any sanctions itself.

But, it puts Thailand in the same basket with a bunch of other pretty unsavory countries....and kind of is a black/gray mark against Thailand in terms of reputation in the financial world...

However, if these kinds of things continue to not be addressed by the government of Thailand, it could conceivably lead to some real consequences somewhere down the road... But I wouldn't sweat it right now..

I'm sure Thailand will continue to be a happy home for money laundering and terrorist R&R for many years to come.

[lukchang]

unanimosity, on 2012-02-17 17:54:50, said:

laurentbkk, on 2012-02-17 16:32:09, said:

thats a sad news for Thailand , lets hope this government will act in a serious way . ( yeah I know I can dream on this) But knowing the country I already hear the comments ... There are no terrorism in Thailand , no money laundering , no prostitution , no corruption ( did I forget anything ?)

No casinos, no mafia, no racism, no political assassinations, no human rights violations, no rich kids in Porsches cutting pedestrians in half and getting away with it, no tea money, no gender confusion, no blame for crimes while drunk, no Sakdina, no abused elephants, no sold children, no bus drivers sleeping on the job, no media monopoly, no 3G, no farang murder victims unless perp is also farang, no fixed muay Thai fights or horse races, no bad bomb detectors or blimps, no TAT film festival wrong-doing, no too cheap to buy paper cups for the drinking fountain, no default on highway construction payments, no spousal abuse, no piracy of software movies and music, no biased research when fortune tellers are available, no fake university degrees, no revenge, no unsafe vehicles on the road, no inter-collegiate warfare, no incorrect translitterations, no broadcast audio out of sync with the video, no feral dogs, no smog in Chiang Mai, no over charging tuk tuk drivers, no dishonest jet ski operators, no finance charges by banks of the same chain when you are away from your home bank branch, .............etcetera

No Floods?

[chrisinth]

JurgenG, on 2012-02-17 17:01:29, said:

More b.s. from the Nation.

For those interested, here is the link to the FATF last report http://www.fatf-gafi...1_1_1_1,00.html

I post it in full, I believe it's a much better starting point for a debate. I don't think the FATF will mind but the mods are of course free to edit if they disagree.

You would also think that they would use a better source to base their article on:
"According to www.wisegeek.com, being on this list can have serious consequences"

[chrisinth]

whybother, on 2012-02-17 17:08:55, said:

JurgenG, on 2012-02-17 17:01:29, said:

More b.s. from the Nation.

For those interested, here is the link to the FATF last report http://www.fatf-gafi...1_1_1_1,00.html

I post it in full, I believe it's a much better starting point for a debate. I don't think the FATF will mind but the mods are of course free to edit if they disagree.

Which part is BS?

btw, here's wisegeek's description: http://www.wisegeek....-laundering.htm

That is the description, but no list on the page. Their definition of a blacklisted country:

"As part of its work to address global movements of funds for illicit purposes, the Financial Action Task Force on Money Laundering also has a blacklist of nations. Countries on the blacklist do not cooperate with the organization's recommendations."

[chrisinth]

Reasonableman, on 2012-02-17 17:19:41, said:

Really, who gives a "flying FATF..."?

[Babcock]

"Her deposit account eh? How did you work THAT out since most Thais like to carry out their transactions in Thai.

That's right, you read Thai.

Edited by NanLaew, Today, 07:48 ."

Roman numerals dude.
100,500000 is what I saw and on deposit you get 0.5% interest.
It could even have been a current account where you get nothing.
I wouldn't leave that sort of money in 1 account.
Here we're talking about money laundering.
I believe anything over 2 million hsa to be reported.
Remember the case against the democrats?
Monies were paid to girlfriends, wives ,sons and daughters etc. but  payments never exceeded 2000000 baht

[Babcock]

rakman, on 2012-02-18 10:37:22, said:

MonsterP, on 2012-02-18 08:59:00, said:

So does this mean that when we try to transfer our hard earned funds out of TH to offshore they will be blocked or limited?  I.e. legitimate savings deposited and currently kept in a Thai bank account.

Anyone got any factual information please?!?  :-)

Its coming.  Italy proposed a downward limit on cash transaction size to increase tax revenue.   Eventually, the world will catch on and cash will become a thing of the past.

I know as I have just received some funds from Italy and it had to be split up to under £10000 transactions.The same occurs in the UK.
When I tried transferring £20000 here they were ringing up with questions about what the money was for.
Here too if you have an HSBC Premier account you can only transfer out 500000 baht per day I think.

[chrisinth]

NanLaew, on 2012-02-18 07:43:29, said:

Babcock, on 2012-02-18 03:43:34, said:

It's late but what's happening with house prices and rents?
They seem all of a sudden to be rising exponentially.
Incidentally I posted this before but only yards from where the iranian blew himself up some weeks back I was waiting behind a lady at the K bank as she withdrew money from the ATM.
I was curious as she touched the screen to count the zeros of the money she was taking out; 20,000 baht. She was so slow. Not uncommon.
I then happened to glance at the balance which was 100,500,000 baht. More than 2 million quid in her deposit account.
A developer we know has just rebuilt her old house and she was offered 26000000 baht for a 3 bedroom house by a farang off Sukhumvit soi 71 but instead now she wants to rent out for 100,000 per month.
A year or two back over in Silom there were no farang and now...

So, it's all the foreigners fault? Or at least the foreigners that peer over your shoulder at the ATM?

Her deposit account eh? How did you work THAT out since most Thais like to carry out their transactions in Thai.

That's right, you read Thai.

I also have great trouble reading Thai numbers & Falang numbers.........

[chrisinth]

sparebox2, on 2012-02-18 09:34:25, said:

zachlsd, on 2012-02-18 09:27:37, said:

No more killing in the south. No more poor farmers getting cheated on their crops namely rice. No more dams. No more deforestation. No more senseless political muders. No more 16yr old drivers.  No more self-exhiled DBs playing god. No more line cutting. No more underage prostitures. No more fraudulent NGOs. No more national park encroachment. No more ice from the burmese army. No more corruption on every level from soi dogs ruling sois to politicians selling people n drugs. No more shinawatra soap operas. No more than 5 chilis in my somtom. And please...no more seeds in the weed.

No more 16yr old drivers? The poor girl you refered to that caused 9 death was 17+.

Lot of 16 yo drivers in Thailand; no reference in the above to 9 deaths.

[pointoffew]

KeyserSoze01, on 2012-02-18 03:33:43, said:

pointoffew, on 2012-02-18 01:05:59, said:

KeyserSoze01, on 2012-02-17 21:43:57, said:

pointoffew, on 2012-02-17 17:28:11, said:

The headline and story are not correct. Thailand is NOT on the blacklist, only Iran and North Korea are, but on another list, known as the grey list.

Perhaps so, although being lumped into the same category as Nigeria will bring unwanted scrutiny to financial transactions to / from Thailand.

Unwanted, excessive scrutiny is already hampering our business, here in Th. We have had corporate PayPal and Moneybookers accounts blocked without prior warning - at least in one case in violation with their own terms and conditions.

The ridiculous obstacles seemingly randomly imposed by PayPal and Moneybookers - apparently because of Thailand's status as a safe haven for money laundering and the financing of terrorism - seriously hurts our import and export business. Because we exclusively sell and provide services online, we can operate our business virtually anywhere on the globe and we may soon be forced to move elsewhere.

It is not only Thailand. I know of incidents where expats in Costa Rica have had their bank accounts frozen without warning. The account holder then has to prove where the funds came from in their accounts prior to them being unfrozen. Lots of money laundering and offshore shell corporations operate in CR. The US has been putting pressure on the Costa Rican government to tighten controls on money flow. All part of the the US tracking down undeclared wealth and earnings so they can tax it, along with the obligatory penalties, interest and subsequent criminal charges.

If only the US would mind their own f****** business. Neither our company, nor our shareholders or any of our staff are or have been subject to US legislation.

Accounts have been blocked four times now. Each time when they were unblocked we immediately made a donation to Wikileaks - which may very well be the reason why accounts got blocked again.

[FarangKenStine]

I pay 50 baht for a shirt

[metisdead]

A post containing an inappropriate comment has been removed as well as a reply.