Bangkok: The House of Representatives has accepted the principle of amending the draft money laundering law, a decision that has sparked significant debate among lawmakers. The amendment, while supported by some, has been criticized by others for potentially weakening the effectiveness of anti-money laundering measures.
According to Thai News Agency, the special meeting of the House of Representatives was convened to expedite consideration of the draft bill proposed by the Cabinet. This included the draft bill on the prevention and suppression of money laundering and the draft bill on repealing provisions defining basic offenses under the money laundering law. These bills were considered together due to their interconnected nature.
Mr. Rangsiman Rome, a party-list MP from the Prachachon Party, expressed his support for the draft law but raised concerns about its content. He argued that the amendment does not strengthen measures to suppress money laundering effectively and questioned the changes made to Section 7 (10), which previously enabled immediate application of anti-money laundering measures for offenses related to secret societies or criminal organizations. The new version requires proof of a criminal network, potentially complicating enforcement.
Rangsiman further highlighted issues with Section 16, which mandates business sectors to report transactions. He noted the reduction in the number of reports required and the lack of modern provisions addressing money laundering through newer means such as cryptocurrencies and online platforms. He emphasized the need for clear specifications to combat evolving threats like call center gangs effectively.
Additionally, Rangsiman criticized the amendment for not adequately supporting the government's policy to promote entertainment complexes, including casinos, known for their association with money laundering and transnational crimes. He called for stronger legal measures to address these issues and expressed concerns about the law's readiness to position Thailand as a money laundering hub.
Mr. Adhisorn Piangket from the Pheu Thai Party echoed concerns about the public consultation process for the draft law, noting the absence of public opinions during hearings as per Article 77 of the Constitution. He questioned the completeness of the law without such input.
Meanwhile, Mr. Chuan Leekpai of the Democrat Party supported the amendment, emphasizing the importance of responsible use of the law to prevent misuse for political advantage. He stressed the need for officials to adhere to correctness and legitimacy.
Mr. Witthaya Nititham, Assistant Secretary-General of the AMLO, addressed concerns about the public consultation process, stating that improvements would be made for future sessions. He also explained the current procedures for money laundering investigations and the need for discussions on AMLO's authority in election-related cases to avoid constitutional conflicts.
The meeting concluded with a majority vote accepting the draft Anti-Money Laundering Act, with a unanimous resolution of 409 votes. A 31-member special committee was appointed to further consider the draft, alongside the draft Act to repeal provisions defining basic offenses under the existing law.