Bank Of Thailand Denies Report Unaccounted Bt10 Billion Used For Vote Buying

[meatboy]

Thais, particularly older ones, use Gold shops as banks, they move gold chains in and out as the price fluctuates. Gold has been climbing for months but just had a recent sudden dip, a good time to buy gold. Most gold dealers seem to use International and offshore banks, over which the BOT has no access.

Just a thought.

could have been gordon brown trying to buy back the gold he gave away when he was chancellor he has no brains.

[webfact]

Central Bank Denies Poll-related Banking Irregularities

The Bank of Thailand stresses that commercial banks are required to inform the Anti-Money Laundering Office of all dubious banking transactions.

The central bank also denies a rumor that over 10 billion baht have been withdrawn to be spent on the July election.

Bank of Thailand Deputy Governor Kerk Wanikkul dismissed a rumor that more than 10 billion baht have been withdrawn from banks to be spent on buying votes and other illegal activities ahead of the July 3 poll.

He said there has been no official report of such activities.

Kerk pointed out that the main duty of the central bank during the run-up to the election is to work with commercial banks in monitoring election candidates' financial transactions.

However the central bank has no authority to investigate the sources of the money spent on election campaigns.

Meanwhile, the Thai Bankers' Association secretary general said that by law, commercial banks are required to report all cash withdrawals of more than rwo million baht or any suspicious transaction to the Anti-Money Laundering Office.

-- Tan Network 2011-05-26

[Heng]

Oh, it'll get distributed all right, and most here would be happy to know that plenty (in fact most of it) ends up in the hands of the commoners. I've never seen or been to the meetings, so this is just hearsay... but apparently it's (the cash) is distributed as any wholesaler would distribute any type of dry goods: rice, noodles, booze, etc. Only instead of actual businessmen, it's usually peon politicians (the type that shoot at each other year in and year out to try to get into these coveted positions). The types of meetings have been described as... at night, often in boxing venues, casinos, massage parlours, with everyone in attendance armed... but no one ever gets shot or robbed or anything (unless you're counting the commoners).

[OZEMADE]

Could this have something to do with the missing 10Billion Baht

[Bagwan]

Why the fuss for heavens sake? The unlovely Pojaman takes a few shekels out of the bank to do some shopping for the summer season and panic breaks out. Is everybody living on their nerves?

[Heng]

*bump* Local vote price is 1,000 a head here in Cholburi. Some parties are only paying 500. Cheapskates.