Thai Immigration to Monitor Foreigner’s Bank Accounts

[firecat69]

Does anyone know if this is a real News Outlet or just someone sitting on his bed creating a facade of a news organization. A problem all over the world of Fake News Outlets where there are no reporters or companies , just someone looking for clicks. . Anyone ever been to the offices of Pattaya One?

[Undaunted]

Could you quote the part that says they have access to accounts ?

No need to as you have the quote in your original post on this topic

[Undaunted]

As for board contributions, I post occasionally on my visits to Thailand and as you suggest, I probably should do more. However, I'm not entirely sure if posting links to trashy news sites is [much better than my input.

Judgement should be waived until such a time

[Gaybutton]

As for board contributions, I post occasionally on my visits to Thailand and as you suggest, I probably should do more. However, I'm not entirely sure if posting links to trashy news sites is [much better than my input.

Judgement should be waived until such a time

I don't suppose we could actually stick to the topic for once - you know, just for a change . . . ?

[Dodger]

Immigration already monitors foreigner's bank accounts, by simply requesting to see a foreigners bank book and bank statement each time they apply for, or renew, their visa, they are, in fact, monitoring their bank accounts. A Bank Book shows a complete history of all transactions, including all foreign and domestic deposits and withdrawals. All the information is right there for all to see.

My read on this article actually makes sense to me. What good does it do for immigration officers to be reviewing and approving bank statements for visa renewal purposes, if they haven't been trained to spot indications (abnormalities) where things like money laundering could come into play.

No concerns on my part.

[Gaybutton]

Immigration already monitors foreigner's bank accounts, by simply requesting to see a foreigners bank book and bank statement

That's assuming you hold only 1 bank account. I hold 5 Thai bank accounts. The only one I ever show immigration is the one where my 800,000 baht for retirement visa renewal resides. I've never shown any of the others and they've never asked if I have any others.

In any case, again I don't believe for a second that immigration officials or any other police agencies are given access to people's bank accounts online, at least not without some sort of warrant. That would be ridiculous and I can't imagine any banks ever cooperating with that.

The article author asks, "Is anybody really comfortable with Thai immigration officers having free and easy access to their bank accounts?" Number 1, that wouldn't bother me at all. Number 2, where is any evidence that they actually do have any kind of access to our bank accounts?

Maybe there really was some sort of training about how to spot money laundering, but nothing was said about what that training entailed, if it ever even took place. I don't see anything sinister going on. I've got better things to worry about.

[Jun]

I don't believe for a second that immigration officials or any other police agencies are given access to people's bank accounts

The only suggestion that they do have access appears to be embellishing the story somewhat. Can you see anything in the article which says they have electronic access or anything about how they access the account ? I certainly cannot.
If there is, it would be good to see that re-quoted here. No one has risen to that challenge so far.

Also, it may be perfectly reasonable for the immigration officials to have some training regarding the paper statements that are presented to them.

[Gaybutton]

Can you see anything in the article which says they have electronic access or anything about how they access the account ?

The short answer is no.

[gera]

Then ultimately, if anyone living in Thailand did lose confidence in the Thai banking system, I suppose the way forward might be to:
1 Keep one bank account with your 800,000 baht in it.
2 Have another bank account that you live off. I have no idea if you have to declare all bank accounts to immigration, but if you do AND it gets to the point where you don't trust them, keep a modest balance and top it up every month.
3 Keep remaining assets in safe countries. For example, Singapore and wherever your home country is. Since I wouldn't be sure that even some of the G7 countries are "safe" on a 30 year time horizon, having accounts in a third country seems wise.

I am not sure that places like Singapore will be safe havens in 30 years. If antiglobalist trend prevail, Singapore may go in flames like Hong Kong and due to similar reasons. Self sufficient countries like Thailand may prove to be safer in the long run.

[werner99]

3 Keep remaining assets in safe countries. For example, Singapore and wherever your home country is. Since I wouldn't be sure that even some of the G7 countries are "safe" on a 30 year time horizon, having accounts in a third country seems wise.

I am not sure that places like Singapore will be safe havens in 30 years. If antiglobalist trend prevail, Singapore may go in flames like Hong Kong and due to similar reasons. Self sufficient countries like Thailand may prove to be safer in the long run.

Is any country "self sufficient" in a globalized world?

Forum members might accuse me of chauvinism and/or nationalism, but I might add that Switzerland offers outstanding banking services if you want a safe haven for your money.