B60m cash brought in through airport still here, says Amlo

General news - Thursday December 13, 2007

RACE TO PARLIAMENT

B60m cash brought in through airport still here, says Amlo

THANIDA TANSUBHAPOL

The officials of the Anti-Money Laundering Office (Amlo) believe the equivalent of 60 million baht in cash carried into Thailand by five Chinese nationals last month is still in the country, although two of them have already left.

Justice Minister Charnchai Likhitjitta said the five Chinese entered Thailand at Suvarnabhumi airport on Nov 20.

The first group, from Guangzhou, arrived about 5pm and declared HK$6.3 million in cash. Another group came from Hong Kong, arriving about 8pm with a similarly large amount of cash.

The total value was equivalent to about 60 million baht, he said.

Authorities' suspicions were immediately aroused, with the arrival of the money coming hot on the heels of deposed prime minister Thaksin Shinawatra's call in an interview in Hong Kong last week for a government of national unity after the Dec 23 election.

Amlo staff at the airport said the five Chinese could not explain what they planned to do with the money. They said they intended to invest in Thailand, but had not decided in what way.

Amlo ran a background check and found they had no businesses in China, Hong Kong or Thailand. All five entered Thailand as tourists.

Amlo could not seize the money, although it is empowered by the recently enacted Money Exchange Act to do so. The act prohibits foreigners from bringing in excessive amounts of cash, but does not specify the maximum amount.

The level set by other nations was US$50,000, Mr Charnchai said.

Amlo staff told the justice minister that at least two of the five Chinese had already left Thailand, but the 60 million baht was probably still in the country.

Amlo will investigate how this money could be linked to the general election and the possibility of offences under the money laundering law.

New cash limits

The Finance Ministry yesterday doubled the amount of undeclared cash that can be brought in or taken out of the country to US$20,000, or about 670,000 baht, up from $10,000.

Inbound passengers are allowed an unlimited amount of foreign and Thai currency if they declare it.

Deputy Finance Minister Sommai Phasi said tourists from many countries still preferred using cash rather than credit cards when spending overseas.

Bangkok Post