A new class-action law, planned for introduction in December of this year, aims to provide greater transparency and avoid large-scale corporate corruption going unreported in Thailand.
As The Nation reports, the legislation is based on class-action procedure laws in the US, and will allow Thai citizens with a lower-socioeconomic status to fight against injustice more easily.
Image Credit: Daniel Lobo (Flickr)
Thailand’s fishing industry is a good example of where the less privileged are being taken advantage of. Rumors of slave labor have been rife, with separate class-action lawsuits being filed against two US corporations – Costco and Nestle Purina for allegedly sourcing their fish from illegitimate sources in Thailand.
Business lawyers in Thailand Chaninat and Leeds have decades of experience helping companies be successful in Thailand.
Although some political scientists argue that corruption can bolster an economy, there are also those who staunchly argue its corrosive effects. Consider this article for example on the topic of China, which argues that the country must curb corruption levels or face considerable economic decline.
Corrupt behavior is not only leading to large scale lawsuits, such is the case with Costco and Nestle, but similarly, earlier this year the CEO of Barclays said that “misconduct” costs the bank billions of dollars in fines annually; Volkswagen is currently looking at an even greater figure.
Thailand recently announced the death penalty for corruption. Those found guilty can expect five to 20 years or life imprisonment, a fine of up to Bt400,000. The death penalty will only be used in the most serious cases.
Go here to learn more about Thailand’s corruption laws.
Just last month, a “National Museum of Political Corruption” opened in Bangkok, highlighting major corruption cases in Thai history.
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