File Attachment(s) Reserve for IOD Member Only CG Update Vol.7/2015 [ 2,447.10 kb. ] Policy Alert Vol.7/2015 [ 1,061.59 kb. ]

Policy Brief

Preparation for the Financial Action Task Force appraisal in 2016

The Financial Action Task Force (FATF) is a special working committee established by G7 countries in 1989. It is tasked with developing an international standard referred to as the FATF Recommendations, for measuring anti-money laundering (corruption, illegal activities) and combating the financing of terrorism (powerful weapons of destruction) or AML/CFT. Thailand was ranked in the dark gray category in 2012 according to FATF standards. However, following the effort of the Anti-Money Laundering Office (AMLO) in advancing laws related to these activities, the country emerged from the dark gray list in 2013. Thailand is now preparing for the next FATF appraisal, to take place in 2016.

CG News Update

Audit Committees: 2015 Mid-Year Issue Update

Policy Alert

The Licensing Facilitation Act

The Licensing Facilitation Act, B.E. 2558 (2015) was announced in the National Gazette on January 22, 2015 and became effective on July 21, 2015. The objective of the Act is to provide a public manual to be used as a guide for more than 40,000 government official with authorizing responsibilities. It provides required processes, procedures, regulations, rules and timeframes for the granting approvals, authorizations and registrations In addition, these  requirements must be in place and functional to handle claims and complaints and lawsuits that may arise if the dictates set out in the manual are not adhered to or interpreted properly or explained clearly to the public citizens. The government officials may be subject to wrongdoing in their duties and liable in cases in which they are deemed to have been   negligent and caused damage to a citizen after wrongfully failing to grant approval or register a request of a citizen, unless they can prove of that the rejection was beyond their control.

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