Legal Issues Concerning Money Laundering through Merchandise Businesses in Tourist Destinations

Abstract

This study examines the legal issues surrounding money laundering through retail businesses in tourist areas. The aim is to investigate the concept of money laundering via these businesses and the legal measures for preventing and suppressing it in both international and Thai contexts. The study utilizes relevant documents, laws, and research, analyzing and presenting the findings according to the study's objectives. The results indicate that retail businesses in tourist areas handle large amounts of cash and their transactions are difficult to trace. Although Thailand currently has the Anti-Money Laundering Act of 1999, there are limitations in regulating these businesses. They are not typically required to report transactions or are not directly regulated by anti-money laundering agencies. Consequently, they are used as a channel to channel illegal funds into financial transactions to conceal or disguise the origin of assets related to criminal activity. Therefore, to prevent and reduce the risk of these retail businesses being used for money laundering, it is deemed necessary to develop more effective regulatory mechanisms and related legal measures.