Money laundering crackdown
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The Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) have confirmed they will proceed with a plan for heightened screening of potential investors in the country’s capital markets in a bid to counter money laundering.
“The stock exchange will be on the front line in scrutinising potential investors, while the SEC will also be monitoring them,” SEC secretary general Rapee Sucharitakul said yesterday.
“However, if the Anti Money Laundering Office (AMLO) find that investors have been laundering money in the markets, AMLO can freeze their assets even if these assets are listed in the capital market.”
SETs president Kesara Manchusree said the exchange would work closely with SEC to monitor investments in the capital market. The SET would take action against suspicious activities and would report its concerns to the SEC immoderately.
