Where necessary, institutions must adjust a customer’s risk profile to high and conduct intensified checks. If a customer cannot supply adequate information or documents, banks may refuse the cash transaction. The BoT said the tightening focuses initially on cash withdrawals, including transactions stemming from cash cheques that result in cash being taken out. According to the central bank, cash transactions are easy to conduct without leaving sufficient records of activity or identity, hampering the tracing of money flows. Read more: Banks tighten digital checks to curb mule accountsBoT governor Vitai Ratanakorn recently said his agency detected unusually large cash withdrawals totalling more than 250 million baht, with some customers requesting only 500-baht banknotes.

Source: Bangkok Post March 19, 2026 15:40 UTC