Taskforce Meets to Trace Source of 'Mystery' Funds
Special committee convenes to investigate capital inflows and ease concerns over a strong baht
- A new five-agency taskforce in Thailand is holding its first meeting to investigate the source of massive, unexplained capital inflows.
- The primary goal is to trace the origin of the funds and determine if the money is linked to illegal activity to address public concern.
- The investigation aims for a swift conclusion in order to build public confidence and alleviate economic pressure on the strong Thai baht.
A new five-agency taskforce is holding its first meeting today to investigate the source of massive capital inflows into Thailand and address public questions about whether the money is linked to illegal activity.
The committee aims to reach a swift conclusion to build confidence and alleviate pressure on the Thai baht.
Lavaron Sangsnit, the Permanent Secretary of the Ministry of Finance, revealed that the committee, comprising representatives from the Fiscal Policy Office, the Bank of Thailand, the Anti-Money Laundering Office, the Securities and Exchange Commission, and the Stock Exchange of Thailand, is holding its inaugural official meeting today to discuss a course of action.
The group's primary goal is to find the origin of the funds and clarify for the public if the money is legitimate.
Lavaron confirmed that the meeting is a continuation of ongoing discussions and will lead to more concrete actions. Given the widespread public interest, he said the taskforce must find a conclusion as soon as possible.
"Today, no one knows what this incoming money is," Lavaron said. "So we have to find a process to first figure out what it is, and then we can put a plan in place to solve the problem."
He expressed confidence that when all relevant agencies work together, they can certainly find the source of the capital. A clear conclusion, he noted, would help put the public at ease and reduce the pressure on the strong Thai baht.
