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Thai banks to consult AMLO about postponing requirement for IDs for CDM deposits

14 Sept 18:27 Key points summarised by AI

The Thai Bankers Association (TBA) plans to meet with the Anti-Money Laundering Office (AMLO) to request a delay in implementing a new rule, effective November 15th, which mandates customers use a credit/debit card and PIN for identification when depositing cash via CDMs.
Both customers and banks express concerns: customers cite inconvenience, particularly for those without cards, while banks face significant costs and time for system upgrades, with one executive suggesting national ID cards as an alternative identification method.

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.