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Thailand House of Reps seeks to block funds for terrorists

Publication Date : 18-10-2012

 

A House of Representatives committee yesterday put forward a draft bill on blocking financial support to terrorists in order to give the Thai government a tough legal instrument to counter terrorism in the country, an official said.

The committee explained that the bill had been proposed because even though Thailand has an anti-terrorism law as part of the Penal Code as well as anti-money laundering laws, it did not have any instruments to prevent funds from getting to terrorists.

If this law is passed, the authorities will have the power to block financial transactions involving terrorists or suspected terrorists who are included in the United Nations blacklist.

Those who are found to have any connections with terrorists or providing financial support to terrorists will face a maximum penalty of three years in prison and/or a maximum fine of 300,000 baht (US$9,800), a draft of the bill obtained by the The Nation showed.

Those who control property found to be connected with providing funds for terrorists will be fined up to 1 million baht as well as charged 10,000 baht per day until such time that the monetary transactions are brought to an end.

In addition, people who know, used to know or have done business with people listed as terrorists by the UN have the obligation to report to concerned authorities. If they fail to do so, they can be fined up to 500,000 and 5,000 baht per day if they continue to maintain contacts with terrorists.

Those who accept property, money or make arrangements for monetary transactions to support terrorists or organisations they know are connected with terrorism activities will face between two and 10 years in prison and/or be fined between 40,000 baht and 200,000 baht.

Legal entities such as companies or foundations that are found committing wrongdoings under this law could be fined between 500,000 baht and 2 million baht. Managers or personnel of such entities found to be directly involved in monetary transactions or any other related wrongdoing could face two to 10 years in prison and/or be fined 40,000 baht to 200,000 baht.

It is still not clear when the bill will be discussed in the House or how long it would take for the law to be passed.

*US$1=30.6 baht


 

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