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. ASEAN NOW

 

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 storing, transferring, and paying bribes, which are difficult to trace. Unlike digital transfers, cash transactions in large amounts leave no record, making them ideal for underhand deals. He highlighted that even though mule accounts are used to cover up such transactions, money typically ends up being withdrawn in cash.

 

Warong cited previous instances in which investigators discovered hidden cash-filled rooms in politicians' homes. He outlined a broader anti-corruption plan, including harsher penalties for financial crimes, such as the death penalty for embezzling over 100 million baht, with executions mandatory within 15 days and no royal pardon eligibility. Additionally, he proposed empowering citizens to sue corrupt officials, offering monetary rewards upon successful legal actions.

 

He assured that cancelling these notes wouldn't impact honest citizens, as most use digital banking. For elderly individuals preferring cash, smaller denominations would suffice. If implemented in the next three months, deposits of large cash sums would require declarations of the money's source and appropriate tax payments.

 

Reactions online were mixed, with some praising the boldness of the proposal, while others questioned its practicality and potential public inconvenience. In a related development, the opposition People's Party has begun its early election campaign with a strong anti-corruption message, as the country nears a possible snap election, reported the Thaiger.

 

 

Key Takeaways:

• Thai Pakdee wants to cancel high-denomination notes to deter corruption.
• Warong argues that these notes help hide illegal financial activities.
• Public reactions are mixed, with concerns over practicality and convenience.

 

  Adapted by ASEAN Now from The Thaiger 2025-12-26