Preecha Charoensahayanon, acting secretary-general of the Anti-Money Laundering Office of Thailand, said that cryptocurrencies will become a new money laundering tool and is planning to include cryptocurrencies in the anti-money laundering regulation and require exchanges to report to the authorities.
The Bangkok Post reported yesterday that Charoensahayanon said in an interview that he has not received complaints about cryptocurrencies used to launder money, but this does not mean that these illegal activities do not exist. He believes that cryptocurrency will be a new challenge in the future, and in the near future, focusing on two major areas, one is to continue to prevent and find out where to hide illegal assets, and the other is to prevent related assets from being hidden in the online world.
Charoensahayanon believes that the criminals will increase the use of bitcoin to transfer illegal funds, making it more difficult for regulators to track. “This is why we have to amend the law to prepare for new online tasks.” The authorities will ask the exchanges to report transactions. At the same time, when the law is amended, it can comply with international standards, supervise service providers and require them to carefully examine the activities of customers and report illegal transactions.