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Thai Central Bank Wants to Uncover Wider Network in Money-Laundering Scam.
Sep. 7--The Bank of Thailand has asked all commercial banks to help check all transactions related to the three companies belonging to the prime suspects in the 7.5-billion-baht money-laundering scam.
The central bank has also requested the banks help trace the links between the three companies and any other transactions to help uncover a wider network of illegal money transfers.
"The network is possibly linked with the whole banking system. However, no matter how wide the illegal network is, all commercial banks are willing to co-operate with the central bank," said Chulakorn Singhakowin, chairman of the Thai Bankers' Association.
The checks will start with tracing the sources of money transferred by the prime suspects during the past three years. The three main suspects are Rosarin Chorpradit, Pichet Chorpradit and Sarinra Mahamad. The police yesterday also issued arrest warrants for 20 others.
Virachart Sriboonma, director of the Bank of Thailand's litigation department, said the checks would help trace the routes of the money, from source to destination, and that would help the police gain ...
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