BoT flags suspect cash withdrawals

Amid heightened concerns over vote-buying, the Bank of Thailand (BoT) has instructed commercial banks to closely monitor and report any unusual cash withdrawals following the discovery of a series of suspicious transactions in recent weeks.

- SOMRUEDI BANCHONGDUANG WASSAYOS NGAMKHAM

BoT governor Vitai Ratanakorn said between Jan 14 and 24, banks detected large-scale cash withdrawals deemed irregular, including one case totalling 250 million baht and another involving 200 million baht.

In some instances, withdrawals were deliberately split across multiple banks, while certain customers specifically requested the cash be issued solely in 500-baht banknotes.

Mr Vitai said the central bank had ordered commercial lenders to flag and report such transactions, adding that any suspicious financial trails would be forwarded to the Anti-Money Laundering Office (Amlo).

Cases linked to electoral activities would also be submitted to the Election Commission (EC) for further investigation to prevent illegal financial transactions.