Thailand establishes a task force to enhance financial institutions' due diligence against arms purchases and human rights abuses in Myanmar.
Thailand plans to establish a task force to enhance the due diligence capabilities of its financial institutions to prevent transactions by banks that could lead to arms purchases and human rights abuses in Myanmar. The move follows reports by a UN expert on a surge in money moved via Thai banks for weapons used by Myanmar's junta against civilians. The Bank of Thailand and the Anti-Money Laundering Office will jointly investigate the transactions and review measures to prevent such payments.
July 24, 2024
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