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Central bank mulls limits on cash withdrawals to curb vote buying and illegal businesses

Central bank mulls limits on cash withdrawals to curb vote buying and illegal businesses

11 Sept 16:31 Key points summarised by AI
  • The Bank of Thailand (BoT) is investigating suspicious large cash withdrawals, including unusual amounts of 500-baht notes, potentially linking them to vote buying or other illegal activities.
  • The central bank plans to implement new regulations within two months, limiting daily cash withdrawals to 3-5 million baht to curb illicit financial transactions and vote buying.
  • Further measures include connecting e-Money and e-Wallet platforms to a Central Fraud Registry and imposing transaction limits on online gold trading to disrupt illegal online money transfers and suspicious exports.
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