Thailand: Thailand's election regulator is set to hold urgent talks with the central bank chief after a suspicious surge in cash withdrawals totaling 250 million baht ($7.9 million), potentially linked to vote-buying ahead of upcoming polls.

According to Thai News Agency, Sawaeng Boonmee, Secretary-General of the Election Commission (EC), stated that he had reached a preliminary agreement with Vitai Ratanakorn, the Governor of the Bank of Thailand (BoT), to establish a framework for sharing financial data. The investigation is in response to reports of unusual cash activity over the past 10 days, specifically involving high volumes of 100-baht and 500-baht banknotes, which are commonly used in illicit political payouts.

Sawaeng noted that they are finalizing the details on how to transfer this data, as there is currently no formal memorandum of understanding (MOU) like the one held by the Anti-Money Laundering Office (AMLO). He added that investigative units have been directed to increase surveillance in highly contested constituencies where the funds are suspected to have been distributed.

Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas confirmed that commercial banks are now required to report suspicious transactions to relevant authorities, including the Department of Special Investigation (DSI). "We are implementing a data bureau system to prevent Thailand from becoming a hub for gray money," Ekniti said. "The system will enhance identity verification and monitor withdrawal patterns. Whether these specific cash withdrawals are tied to vote-buying is a matter for the EC to investigate."

Prime Minister Anutin Charnvirakul praised the central bank's vigilance, stating that the move would significantly bolster political transparency. "The Governor is doing exactly the right thing. If such patterns emerge, they must be reported to AMLO and the Royal Thai Police," Anutin said. He emphasized that banks have been instructed to strictly report large withdrawals of small-denomination notes. "This will make our politics much more transparent."