BANGKOK – Thailand’s central bank and anti-money laundering office are set to investigate claims that Thai commercial banks facilitated transactions linked to arms purchases by Myanmar’s military junta. The move follows allegations brought to light in a recent UN report.
Since the coup in 2021, which ousted the government of Aung San Suu Kyi, Myanmar has been embroiled in violence and political turmoil. The military’s crackdown has drawn international condemnation and led to sanctions from the United States, European Union, and other global entities.
According to the UN special rapporteur Tom Andrews, Myanmar’s junta imported approximately US$130 million worth of weapons and military supplies from suppliers registered in Thailand between April 2023 and March 2024. This figure represents a significant increase from the previous year. The report also highlighted the role of five Thai commercial banks in facilitating these transactions.
On July 24, Thai foreign affairs spokesman Nikorndej Balankura announced that officials from various sectors had met to discuss these concerns. “The Bank of Thailand and the anti-money laundering office will jointly form a task force to thoroughly investigate these transactions,” Balankura stated, without providing a specific timeline for the investigation.
The coup in Myanmar has resulted in ongoing conflict, with the junta facing resistance from established ethnic minority armed groups and newly formed pro-democracy People’s Defence Forces. Human rights organizations have accused the junta of committing severe violations and possible war crimes.
Since the coup, local monitoring groups report that over 5,400 people have been killed and 27,000 have been detained as part of the junta’s ongoing crackdown. The Thai investigation into the alleged financial facilitation could add pressure on Myanmar’s military rulers and highlight the intricate regional dynamics at play.