BANKBackground
Bank of Thailand tightens account rules to curb grey money
The Bank of Thailand is introducing customer due diligence (CDD) and enhanced due diligence (EDD) for deposit accounts to fight mule accounts and grey money. Tighter controls have already cut large cash withdrawals by 50% and gold-trade withdrawals by 70%. New regulations detailing the rules are expected in the Royal Gazette next week.
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