The Inspection System Development for Detecting Suspicious Transaction of Financial Institution to Prevent Money Laundering in Narcotic Case

Abstract

          The problem of money laundering from drug trafficking is undermining national economic and social stability. It is found that money laundering through financial institutions in the type of commercial bank is the most common form of money laundering. Drug traffickers usually launder the money through financial transactions with a value not exceeding the criteria prescribed by law that requires financial institutions to report to the Anti-Money Laundering Office (AMLO) to avoid being found laundered money. While financial institutions' inspections are not able to effectively detect "Suspicious Transaction" for reporting to the AMLO. Causing the money laundered from drug trafficking escaped through financial institutions very much more than it should be. Therefore, there should be an analysis study of the draft provisions or regulations on the feature transactions of money laundering from drug trafficking through financial institutions as a specific chapter in the anti-money laundering law for more concisely inspecting measures of money laundering from drug trafficking to increase the effectiveness in the prevention and suppression of money laundering from drug trafficking. With an opinion that should study the provisions on the "Specific Transaction" of the Revenue Code as part of this analysis study until being able to push forward this specific chapter to be law.