Thailand to revise money laundering law to tackle IP piracy

BANGKOK, January 28 (TNA) - The Thai government, through the Ministry of Commerce, is gearing up to tackle intellectual property (IP) violations by having the anti-money laundering act amended to suppress copyright violators. Deputy Commerce Minister Nattawut Saikua told journalists on Monday that his ministry's Department of Intellectual Property has declared 2013 the year to tackle piracy and concerned authorities are actively cracking down copyright violators. Nattawut said that the Department of Intellectual Property has also had the anti-money laundering law amended to cover copyright violations, with the amended law, having been approved by the Thai Parliament, to be enacted shortly after finally endorsed by His Majesty King Bhumibol Adulyadej. According to the deputy commerce minister, the Department of Intellectual Property will then propose asset seizure guidelines to be imposed against copyright violators and masterminds. Under the guidelines, any violator--whose pirated products are estimated at over 500,000 baht--will face the seizure of his/her pirated products and assets. The deputy minister acknowledged that about 8,400 people were prosecuted for copyright violations last year, about 50 of whome were arrested with pirated products worth over 500,000 baht each. (TNA)