28 October 2009
(Translation)
ANTI-MONEY LAUNDERING ACT
B.E. 2542 (1999)
_________
BHUMIBOL ADULYADEJ, REX;
Given on the 10th Day of April B.E. 2542;
Being the 54th Year of the Present Reign.
His Majesty King Bhumibol Adulyadej is graciously pleased to proclaim that:
Whereas it is expedient to have a law on anti-money laundering;
Whereas it is aware that this Act contains certain provisions in relation to the
restriction of rights and liberties of persons, in respect of which section 29, in conjunction
with section 35, section 37, section 48 and section 50 of the Constitution of the Kingdom of
Thailand so permit by virtue of law;
Be it, therefore, enacted by the King, by and with the advice and consent of
the National Assembly, as follows.
Section 1 This Act is called the "Anti-Money Laundering Act, B.E. 2542
(1999)".
Section 21 This Act shall come into force after one hundred and twenty days as from the date of its publication in the Government Gazette.
Section 3 In this Act: “predicate offence” means any offence
(1) relating to narcotics under the law on narcotics control or the law on
measures for the suppression of offenders in offences relating to narcotics;
(2) relating to sexuality under the Penal Code only in respect of procuring,
seducing or taking away for an indecent act a woman and child for sexual gratification of
others, offence of taking away a child and a minor, offence under the law on measures for the
prevention and suppression of women and children trading or offences under the law on
prevention and suppression of prostitution only in respect of procuring, seducing or taking
away such persons for their prostitution, or offence relating to being an owner, supervisor or
manager of a prostitution business or establishment or being a controller of prostitutes in a
prostitution establishment;
(3) relating to public fraud under the Penal Code or offences under the law
on loans of a public fraud nature;
(4) relating to misappropriation or fraud or exertion of an act of violence
against asset or dishonest conduct under the law on commercial banking, the law on the
operation of finance, securities and credit foncier businesses or the law on securities and stock
exchange committed by a manager, director or any person responsible for or interested in the
operation of such financial institutions;
(5) of malfeasance in office or malfeasance in judicial office under the
Penal Code, offence under the law on offences of officials in State organisations or agencies
or offence of malfeasance in office or dishonesty in office under other laws;
(6) relating to extortion or blackmail committed by claiming an influence
of a secret society or criminal association under the Penal Code;
(7) relating to smuggling under the customs law.
(8)2 relating to terrorism under the Penal Code.
(9)3 relating to gambling under the law on gambling, limited to offense
relating to being an organizer of a gambling activity without permission and there are more
than one hundred players or gamblers at one time, or the total amount of money involved
exceeds ten million Baht.
“Transaction” means an activity related to an entry into a juristic act, a
contract or the execution of any act with others in financial or commercial matters, or the
operation in connection with asset.
“Suspicious transaction” means a transaction of a differently complicated
nature from similar transactions ordinarily made, transaction lacking economic feasibility,
transaction reasonably believed to have been made in order to avoid the applicability of this
Act, or transaction connected or possibly connected with the commission of a predicate
offence, irrespective of whether such transaction is made once or more than once.
“Asset connected with the commission of an offence” means:
(1)4 money or asset obtained from the commission of an act constituting a
predicate offence or from aiding and abetting or rendering assistance in the commission of an
act constituting a predicate offence and shall include money or asset that was used or
possessed to be used for a commission or aiding and abetting of the commission of an act
constituting a predicate offense under (8) of the definition of “predicate offense”;
(2) money or asset obtained from the distribution, disposal or transfer in
any manner of the money or asset under (1); or
(3) fruits of the money or asset under (1) or (2).
Provided that it is immaterial whether the asset under (1), (2) or (3) is
distributed, disposed of, transferred or converted on how many occasions and whether the
same is in possession of any person or transferred to any person or evidently registered as
belonging to any person;
“Financial institution” means:
(1) the Bank of Thailand under the law on Bank of Thailand, a commercial
bank under the law on commercial banking and such banks as specifically established by law;
(2) a finance company and credit foncier company under the law on the
operation of finance, securities and credit foncier businesses, and a securities company under
the law on securities and stock exchange;
(3) the Industrial Finance Corporation of Thailand under the law on
Industrial Finance Corporation of Thailand and a small industrial finance corporation under
the law on small industrial finance corporations;
(4) a life insurance company under the law on life insurance and an
insurance company under the law on insurance;
(5)5 cooperatives under the law on cooperative, limited to a cooperative
with operating capital exceeding two million Baht of total share value and having objective of
its operation relating to acceptance of deposits, lending of loans, mortgage, or pawning or
acquiring of money or asset by any means.;
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[1] [2] [3] [4] [5] [6] [7] [8] [9] [10]
1. Published in Government Gazette, Vol. 116, Part 29a, page 45, dated 21st April 1999.
2. Section 3 definition of “predicate offense” (8) added in accordance with provision of Royal Decree on Amendment to the Anti-
Money Laundering Act of B.E. 2542 (1999) B.E. 2546 (2005)
3. Section 3 definition of “predicate offense” (9) added in accordance with the Anti-Money Laundering Act (No.2) B.E. 2551 (2008)
4. Section 3 definition of “asset connected with the commission of an offense” (1) amended in accordance with the Anti-Money
Laundering Act (No.2) B.E. 2551 (2008)
5. Section 3 definition of “financial institution” (5) amended in accordance with the Anti-Money Laundering Act (No.2) B.E. 2551
(2008) |
