36 Thai banks to huddle about stopping financial crime

AMLO will gather the banks after a big ID theft made headlines.

The Anti-Money Laundering Office (AMLO) and 36 Thai banks will meet on Monday to discuss ways to prevent financial crimes such as ID card theft. This is in light of a recent case involving fraudsters allegedly using 24-year-old private company worker Nicha Kiatthanapaiboon’s stolen ID card to open nine accounts in seven banks.

AMLO’s duty is to monitor Thai banks and their abiding by money-laundering laws, whilst banks are obliged to correctly verify the identities of people who want to open bank accounts.

In the meantime, Thai banks are following stricter regulations and being more careful in identification checking for opening accounts or using bank services.

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