Gold shop owner accused of laundering drug money
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published : 27 May 2021 at 17:50
11 Police read out the arrest warrant to Tanetpol Manaspiyalert, 32, at his gold shop in Muang district, Kanchanaburi, on Thursday morning. (Photo: Piyarat Chongcharoen)
KANCHANABURI: Authorities on Thursday arrested a local gold shop owner on allegations he was laundering money for border drug smugglers, and impounded assets worth about 30 million.
Police and soldiers raided the Phet Thong Sap Thawee Lae Nalika Thong Thae Yaowarat gold shop on U-Thong Road in Muang district.
There they arrested gold shop owner Tanetpol Manaspiyalert, 32. He was one of many suspects sought at various locations raided simultaneously in the province.
ID check required for new crypto accounts
3 Dip-chip machine to be used from September
published : 3 May 2021 at 04:30
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Opening of new cryptocurrency accounts may slow in the second half of this year as the Anti-Money Laundering Office (Amlo) announced local digital exchanges must verify their customers identities through a dip-chip machine that requires clients to be physically present.
The dip-chip requirement comes into effect in September, said Poramin Insom, co-founder and director of Satang Corp.
As of April 26, there were 697,780 cryptocurrency accounts nationwide, a surge from 160,000 at the end of last year. Most digital asset exchanges are still busy preparing their systems to accommodate the growing number of clients as new account applications continue to flow in. However, this growth may be curbed if the application process becomes more complicated, said Mr Poramin.
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Starting July, AMLO will require all exchanges to use dip-chip machines for identity verification.
This move will need all users that want to open digital accounts to visit exchanges physically.
Players in the Thai crypto space believe this change will inhibit the growth of the nascent sector.
Thailand’s financial watchdogs are gearing up to introduce new policies that will require crypto exchanges to verify the identities of new users in person. The country’s Anti-Money Laundering Office (AMLO) will mandate exchanges to use a dip-chip machine for identity verification starting July 2021. Reportedly, dip-chip machines scan a chip integrated into Thai citizen ID cards.