But the country's Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is now calling for more action. It wants more laws to be introduced to back up the Anti-Money Laundering Act and the Counter Terrorism Financing Act which both took effect in February. 'Hopefully we will be free of the watch list in 2015 if we make progress on the subordinate law amendments,' says a spokesperson for the JSCCIB. FATF will reconsider Thailand's status in 2015, according to the Bangkok Post. FATF has been concerned that Thailand has been unable to prevent money laundering by terrorist groups in its deep south provinces. 

Credit ratings

Thailand made major progress by imposing new laws to convince the FATF to remove us from the international list of high-risk countries for transactions,' said Pongsak Assakul, senior chairman of the Thai Chamber of Commerce, in discussion with the Bangkok Post. But specific improvements would result from getting Thailand off the FATF lists completely, he said. These include a better credit rating for the country and improved business confidence.