Thai Pakdee Party plans to cancel 1,000 and 500 baht banknotes

Thai Party Plans to Axe 1,000 and 500 Baht Notes

The Thai Pakdee Party has announced a plan to cancel the 1,000 and 500 baht banknotes throughout Thailand. This move aims to combat corruption and disrupt illicit cash flows. Warong Dechgitvigrom, the party leader, shared this anti-corruption policy on Facebook, asserting these notes enable grey money operations to disguise illegal wealth. Warong believes eliminating these notes will restrict corrupt networks from using physical cash for sto…

Thai Pakdee Party plans to cancel 1,000 and 500 baht banknotes

Thai Pakdee Party plans to cancel 1,000 and 500 baht banknotesLegacy Key insights from the news The Thai Pakdee Party plans to cancel 1,000 and 500 baht banknotes to combat corruption and disrupt illicit cash flows, as announced by leader Warong Dechgitvigrom.Warong argues that high-value cash notes facilitate grey money operations, making it easier for corrupt networks to hide and transfer illegal wealth without leaving a trace.He proposed har…