Thailand's e-money service providers ordered to watch out for World Cup gambling transactions

BANGKOK, June 10 (TNA) - Thailand's Anti-Money Laundering Office (AMLO) has issued an order to electronic money service providers to watch out for World Cup gambling money transfers. AMLO Secretary-General Police Colonel Seehanat Prayoonrat told reporters on Tuesday that the written order has been sent to Thai Smart Card Co, ViA Card (Thailand) Co, Advanced mPay Co, Advanced Magic Card Co, PaysBuy Co, TrueMoney Co, Bangkok Smartcard System Co. and IP Payment Solution Co. Police Colonel Seehanat said that the managements of the companies were instructed to report unusual money transfers and payments through their systems to the AMLO, with any firm failing to do so to face a lump sum fine of up to 500,000 baht or a 5,000-baht fine per card per transfer. The AMLO chief pointed out that online gambling turnovers amounted up to 100-1,000 million baht and online gambling in Thailand is different from overseas, as it involves money transfers through e-money systems. In other countries, especially Singapore and Japan, online gambling used Bitcoin and virtual currency. The AMLO chief vowed that his office would also seize hundreds of bank accounts suspected of being used for illicit businesses, including call center scams and drug trafficking. (TNA)