Thailand Requires Proof of Source for Personal Cash Deposits Over 5 Million Baht, Intensifies USDT Transaction Monitoring

Odaily Odaily Planet Daily News Thailand will require individuals depositing cash exceeding 5 million baht (approximately $150,000) to verify the source of funds. This measure expands the compliance responsibilities of commercial banks concerning cash networks, large currency exchanges, precious metal transactions, and suspicious stablecoin transactions. The Bank of Thailand and the Securities and Exchange Commission are conducting joint audits with a focus on USDT to identify and prevent illegal fund flows. The operation also includes tightening controls over precious metal transactions, requiring banks to report suspicious patterns such as rapid digital purchases and same-day physical withdrawals to combat money laundering activities.