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Thai Central Bank defends new controls on cash deposits via CDMs

Thai Central Bank defends new controls on cash deposits via CDMs

2 Oct 05:02 Key points summarised by AI
  • The Bank of Thailand supports new Anti-Money Laundering Office (AMLO) rules, effective November 15th, requiring debit/credit cards and PINs for cash deposits via CDMs to combat money laundering and terrorism financing.
  • While 11 commercial banks have approved the measure, some customers criticize it for increasing financial burden and inconvenience, as those without cards must visit branches and pay fees.
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