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#1
18-01-2007, 14:06
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bank calling about transfers
I just got a call about my money transfers over the past year. A lot of detailed questions about the source of funds, purpose of funds, questions about the where I keep my money outside and so on. Nothing sensitive or that they wouldn't really already know.
They said they are now required to do with according to Bank of Thailand. Maybe they are more serious about know your client rules or they are hunting down all foreign source money. Anyone else get this?
__________________
Women with a past and men without a future grope and shuffle on the dance floor. 
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#2
18-01-2007, 16:49
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You must be transfering big bucks ATM - Bank of Thailand only require info on transfers >= USD 10k.
This is a new one on me - never heard of anyone else ever being questioned like that.
__________________
Its My Life ..........!
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#3
18-01-2007, 17:00
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yep, over the 10K limit, but been doing that for 4 years. First time I got a call. Seems like there are some new procedures in place. To what end, I am not sure. Maybe I will do smaller amounts and get off the radar.
__________________
Women with a past and men without a future grope and shuffle on the dance floor.
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#5
19-01-2007, 12:25
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It's not a Thai/foreigner thing rather it's anti- money laundering legislation that's becoming standard practice the world over these days. In the UK actually we have this weird situation where the money laundering regs are so wide ranging they now include physical possessions...
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#6
19-01-2007, 12:37
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At first I thought it was know your client stuff, but they were calling about transfers from last year.
I think it is more to do with baht speculation or foreign business or something. Asked me several times if I ran a business.
__________________
Women with a past and men without a future grope and shuffle on the dance floor.
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#7
20-01-2007, 00:39
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Standard questions for anti money laundering...as you say the bank already have access to the info, they are just covering their ass here by showing they "investigated". In the west the banks and even the individual tellers that work there are now held criminally responsible for not investigating or reporting suspicious activity. It's the kind of thing that is spreading to even countries like thailand as it gets written into the clauses of trade/aid agreements now especially with the rise in terrorism.
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