The Bank of Thailand will strengthen regulation on large cash withdrawals.

The Governor of the Bank of Thailand, Vitai Ratanakorn, told reporters that the central bank will strengthen supervision of large cash withdrawals and plans to introduce new regulations in the next 2-3 months to curb illegal fund flows. In the past 10 days, the central bank has monitored two unusually large cash withdrawal transactions, each amounting to 2 billion Thai baht. Under the proposed regulatory framework, banks will be required to conduct enhanced due diligence on such large cash withdrawal transactions.