Anti-Money Laundering Office Cracks Down on Rare Wood Smuggling in Thailand

by admin on July 24, 2014

The Nation reports that the AMLO office launched a four-month investigation to follow a money trail and uncover details of Siamese rosewood smuggling gangs in Northeast Thailand.

The investigation began in April, according to The Nation, after police first busted a gang in Chaiyaphum and found reported evidence of timber trading. The AMLO’s efforts to track the gang’s money laundering transactions unearthed key details of the tactics used by gangs to smuggle and trade the rare wood.

As reported by The Nation, smuggling cartels primarily used five-car convoys, from a rotation of about 100 cars, to transport the wood and avoid getting caught by police. The trade profits were reportedly laundered in Thailand across tour businesses, massage parlors, second-hand car dealerships, and banks where relatives of the gang members worked.

Chaninat and Leeds is a Bangkok-based international law firm and has fraud attorneys in Thailand with decades of experience.

According to The Nation, AMLO chief Pol Colonel, Sihanart Prayoonrat, said that individuals found to be involved in the illegal felling and smuggling of rosewood would face up to four years in prison and/or fines up to 40,000 baht, in addition to penalties under the money-laundering law.

Read the full story here.

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