Thailand's progress in strengthening measures to tackle money laundering and terrorist financing

Publication details

Language

English

Country

Thailand

Overall, Thailand has made good progress in addressing the technical compliance deficiencies identified in its MER.

  • Recommendations 13, 16, 19 and 20 have been re-rated form Parially Compliant to Largely Compliant

Thailand has also made progress on Recommendations that were amended after the adoption of its MER in 2017.

  • Thailand has been re-rated to Compliant on Recommendation 2 and rated Largely Compliant on Recommendation 21. 

Thailand will remain in enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures.  Thailand’s third progress report is due 1 February 2022.

APG-Follow-Up-Report-Thailand-2021

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APG-Follow-Up-Report-Thailand-2021.pdf
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Thailand Follow-Up Report 2021

R.1 - Assessing risk & applying risk-based approach
PC
R.2 - National cooperation and coordination
C
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
LC
R.8 - Non-profit organisations
PC
R.9 - Financial institution secrecy laws
LC
R.10 - Customer due diligence
LC
R.11 - Record keeping
LC
R.12 - Politically exposed persons
LC
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
LC
R.15 - New technologies
LC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
C
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
LC
R.20 - Reporting of suspicious transactions
LC
R.21 - Tipping-off and confidentiality
LC
R.22 - DNFBPs: Customer due diligence
NC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
PC
R.25 - Transparency and beneficial ownership of legal arrangements
PC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
LC
R.33 - Statistics
LC
R.34 - Guidance and feedback
LC
R.35- Sanctions
PC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
LC
R.38 - Mutual legal assistance: freezing and confiscation
C
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

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Earlier reports

  • 20 Sep 2018

    Thailand's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses the progress of Thailand in addressing the technical compliance deficiencies identified in its MER.

  • 28 Dec 2017

    Thailand's measures to combat money laundering and the financing of terrorism and proliferation This APG report provides a summary of the anti-money laundering and combating the financing of terrorism (AML/CFT) measures in place in Thailand as at the date of the end of the on-site visit (11 November 2016). It analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Thailand’s AML/CFT system, and provides recommendations on how the system could be strengthened. This mutual evaluation report was adopted by the APG at its annual meeting in July 2017.

  • 24 Jul 2007

    Mutual Evaluation of Thailand Thailand is a member of APG, the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT measures in Thailand was conducted by the International Monetary Fund. The evaluation report was adopted by APG.