The Anti-Money Laundering Office has decided to take up action and proposed stricter measures for opening private bank accounts in an attempt to step up money laundering surveillance, especially after recent prominent arrests of foreigners accused of money laundering and currency fraud.
Recently some foreigners claiming to be students with no source of income were expelled from the country as they were found holding accounts of millions of baht.
In Thailand, the only documentation required to open a bank account for any foreigner visiting or living in the country is a photocopy of the passport. The minimum deposit varies from bank to bank but can be as low as $ 15, the account is immediately activated without any pre-screening process.
The Anti-Money Laundering Office added that from now on, foreigners wishing to open a bank account would need a personal file providing proof of their lawful intentions as well as an interview with bank officials.
Detailed news link: click here