FATF AML/CFT FOLLOW-UP REPORT FOR THAILAND

On 11 August, FATF published the second follow-up report on Thailand.  It is said that, overall, Thailand has made good progress in addressing the technical compliance deficiencies identified in its mutual evaluation report (MER) of December 2017.  FATF Recommendations 13, 16, 19 and 20 have been re-rated form Partially Compliant to Largely Compliant.  Thailand has also made progress on FATF Recommendations that were amended after the adoption of its MER in 2017 and has been re-rated to Compliant on Recommendation 2 and rated Largely Compliant on Recommendation 21.  Thailand new has 31 Recommendations rated C or LC, but will remain in enhanced follow-up, and will continue to report back to FATF-style regional body APG on progress to strengthen its implementation of AML/CFT measures, with a third progress report due 1 February.

http://www.fatf-gafi.org/media/fatf/documents/reports/fur/APG-Follow-Up-Report-Thailand-2021.pdf

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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