Anti-Money Laundering Offices Seizes 4,000 Thai Bank Accounts for Investigation

by admin on February 28, 2018


On Monday, the Anti-Money Laundering Office, along with 36 of the main commercial Thai banks and financial institutions discussed tighter security measures for clients wanting to open future accounts.

The meeting follows 4,000 accounts under investigation for criminal activity. Among the security measures would include a more intense screening of the applicant, requiring several forms of identification, including a house registration. Bank staff will also be required to check that the applicant looks similar to the photo on the ID documentation.

Banks were also told to let the Local Administration Department download their programs for further identity verification.

Read the full story here

Related Blog:
Anti-Money Laundering Office Cracks Down on Rare Wood Smuggling in Thailand

Image: Thai Farmers Bank

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