Banking Privacy

[somala]

Just a quick question

Does Thailand have banking privacy? Are my personal finances in Thailand private banking at high street banks in Thailand.

Thanks

[chainarong]

Good Question , just where are you going to find Privacy, with all the hi tec stuff out there, just spying on everything and everyone, there's no such thing anywhere as privacy, big brother is watchin you right now HeHeHe.

[aurelius]

Thailand has not yet enacted the Personal Information Bill - it has been in the making for some time and is required as part of the AEC process.

A recent newspaper article refers..

http://www.bangkokpost.com/opinion/opinion/256609/too-many-caveats-kill-privacy-in-bill-on-personal-data

However in my view, sensitive personal information is reasonably well protected; with the exception of names and telephone numbers which seems to make it into the hands of telemarketing companies with ease.

[somala]

Is my balance shared with other countries. For example can my ex-wife find my bank balance in Thailand with a court order? How about tax office in another country?

[aurelius]

Is my balance shared with other countries. For example can my ex-wife find my bank balance in Thailand with a court order? How about tax office in another country?

Thai banks are required to follow instructions from Thai police investigators operating under Thai court order, so if your (x-wife's) court order was endorsed by a Thai court then probably the balance would have to be provided. But without a full international investigation going on its not likely - police in one country can't just ring their buddies in another country and get the info handed over.

Tax cooperation seems a bit more likely, but it seems to depend on the specific countries involved as we've seen with Switzerland and the US not so long ago