# Thailand tightens regulations on large cash withdrawals in a new crackdown on grey funds

- Link: https://www.thailand-business-news.com/banking/282324-thailand-tightens-regulations-on-large-cash-withdrawals-in-a-new-crackdown-on-grey-funds
- Published: 2026-01-30T13:50:08+07:00
- Author: Abhishek Prakash

The Bank of Thailand (BoT) is implementing stringent new measures to combat “grey
money” flows, mule accounts, and other illicit financial activities.

These initiatives, announced by Governor Vitai Ratanakorn, aim to increase transparency
across various transaction types, particularly **large cash withdrawals and gold
trading, to better intercept suspicious financial movements.**

ADVERTISEMENT

Regarding cash withdrawals, the BoT is introducing the following requirements for
commercial banks:

### Related**Posts**

###  󠀁[Bank of Thailand to Launch Banknotes in Remembrance of Her Majesty Queen Sirikit](https://www.thailand-business-news.com/banking/339361-bank-of-thailand-to-launch-banknotes-in-remembrance-of-her-majesty-queen-sirikit)󠁿

###  󠀁[Thailand Business News — Morning Briefing](https://www.thailand-business-news.com/banking/339346-thailand-business-news-morning-briefing-8)󠁿

###  󠀁[China–Lao PDR Launch Cross-Border e-CNY Payment Connect](https://www.thailand-business-news.com/asean/laos/338268-china-lao-pdr-launch-cross-border-e-cny-payment-connect)󠁿

###  󠀁[Managing Supply Shocks: Tools of the Central Bank, Fiscal Capacity, and Building Financial Resilience](https://www.thailand-business-news.com/banking/337849-managing-supply-shocks-tools-of-the-central-bank-fiscal-capacity-and-building-financial-resilience)󠁿

 * Banks will be mandated **to flag and report large cash withdrawals, with the 
   threshold expected to be in the range of 3 to 5 million baht.**
 * They must also record the customer’s stated purpose for these substantial cash
   withdrawals.
 * The BoT considers unusually **large cash withdrawals potentially suspicious, 
   especially given the availability of electronic transfers and cheques for significant
   payments.**
 * Commercial banks are further encouraged to strengthen customer due diligence (
   CDD) and scrutinize inconsistencies between a customer’s financial profile and
   unusual account activity (e.g., daily movement of millions for an incompatible
   occupation).

For gold transactions, the BoT is significantly tightening oversight with new and
upcoming regulations:

 * A foreign-exchange notification has already been published, requiring gold buyers
   or sellers who have imported or exported gold with a total value exceeding 10
   billion baht over the past five years to report to the BoT.
 * Two additional notifications are expected to be published:
    - Gold shops will be required to keep records of all gold transactions exceeding
      20 million baht.
    - A cap of 50 million baht will be imposed on gold trading conducted via applications
      settled in Thai baht. This cap will not apply to USD-settled apps, and app
      providers will receive a one-month grace period to implement the change. It
      will only apply to new trades, allowing previously purchased gold to be traded
      normally if platforms clearly separate new and existing holdings.

These gold-related measures are intended to enhance transparency and close loopholes
for illegal activities, as gold trading on apps has sometimes surpassed the trading
volumes seen in equities markets, which are already subject to strict regulatory
oversight.