IMF team to assess AMLO's standards
Top officials from the International Monetary Fund will tomorrow begin an evaluation of the Anti-Money Laundering Office to see if its procedures conform to international standards.
AMLO chief Yuthabul Dissaman said his agency was the first of 42 that would be appraised by the IMF team. AMLO's assessment will be based on 49 international regulations on anti-money laundering and nine on suppression of financial support for international terrorist acts. "If we're rated as being fully in compliance with these rules and regulations, we'll gain more international recognition and benefit from cross-border cooperation in all kinds of financial activities. "However, if we don't pass the compliance test or get a low rating, we could face problems, for instance in the case of Burma," he said. The IMF team will also exam the practices of the Finance Ministry, Justice Ministry, National Counter Corruption Commission, Attorney-General's Office and National Police Office. The Bank of Thailand, Securities and Exchange Commission, commercial banks, securities brokers and international money-transfer agents will also be evaluated.
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