Thailand forms task force to prevent Myanmar arms purchase transactions

The Thai government met with commercial banks and state agencies to investigate such transactions after a United Nations expert reported on a surge in money moved via Thai banks for weapons that were used by the junta against the civilian population.

The meeting discussed progress made in investigating transactions that may be linked to the purchase of weapons, military supplies and the Myanmar government, the foreign ministry said in a statement late on Wednesday (July 24).

The Bank of Thailand and the Anti-Money Laundering Office (AMLO) will establish a task force to investigate the transactions and review measures to "further equip and enhance the ability of Thai financial institutions," the statement said.

Earlier this month, bank representatives told a parliamentary committee that they had followed regulations but lacked the capacity to investigate all transactions that could be used for arms purchases.

Myanmar is embroiled in a civil war that pits the military, which staged a coup in 2021 after a decade of democracy, against a loose alliance comprised of ethnic minority armies and a resistance movement loyal to a shadow government.

Last month's report by the UN special rapporteur on the situation of human rights in Myanmar said that Thai-registered companies had used local banks to transfer funds for weapons and related materials for Myanmar worth US$120 million in the 2023 fiscal year, compared to US$60 million the year before.

The report said those transactions were blunting global efforts to isolate the military, which is facing its biggest challenge since taking back power.

Reuters