CRIMINAL LABILITY OF JURISTIC PERSONS FOR LAUNDERING OFFENSE : CASE STUDY SECTION 61 OF THE ANTI-MONEY LAUNDERING AET, B.E. 2542 (1999)

Abstract

This thesis aimed to study problems related to concepts and theories of criminal liabilities of a juristic person in the case of money laundering as well as legal measures pertaining to the money laundering prevention and suppression of juristic persons in foreign countries including the United States of America (USA), Federal Democratic Republic of Nepal (Nepal) and the Republic of Philippines (Philippines). The obtained data were analyzed to recommend a guideline for amending laws in relation with the criminal offence of juristic persons in the case of money laundering in Thailand. This is a qualitative research, including documentation research and in-depth interviews with personnel working in relevant organizations. These two parts of information will be analyzed together. The findings revealed that the criminal offence of juristic persons in the case of money laundering was substantially important. The Anti-Money Laundering Act B.E. 2542 (1999) and applicable laws remain defective in some aspects such as the case term of criminal proceeding with juristic persons in the case of money laundering, The rate of fine penalty to be sentenced to juristic persons as stipulated by law is not appropriate in comparing to the benefits that the offender receives. In addition, other special measures to prevent and suppress money laundering offences by juristic persons, executives of juristic persons or representatives of juristic persons as well as other persons involved is still unclear. Therefore, the provisions of Section 61 of the Money Laundering Control Act B.E. 2542 (1999) should be revoked., and Section 60 should be applied with any acts of juristic persons as same as natural persons who commit an offence regarding the money laundering. Additionally, Section 60 should be amended in term of sentencing that should be enhanced. Moreover, the Foreign Business Act B.E. 2542 (1999) should be amended, especially in Section 29 of the Foreign Business Act B.E. 2542 (1999). A memorandum of understanding (MOU) between relevant entities should be provided in order to exchange data of a watch list of any persons that may commit an offence regarding the money laundering, The list of offenders related to money laundering (Blacklist) is for preventing and suppressing money laundering of juristic persons appropriately and efficiently.