Thailand Tightens Cash Deposit Rules Above 5 Million Baht
Thailand's banks will require customers to disclose the source of cash deposits exceeding 5 million baht starting in the fourth quarter, part of a crackdown on undeclared income and money laundering.
BANGKOK: Customers depositing more than B5 million in cash will be required to disclose the source of the funds from the fourth quarter as part of tighter measures to curb the grey economy and illicit financial activities, according to Bank of Thailand (BoT) Governor Vitai Ratanakorn.