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Moves to seize money in idle bank accounts “for the benefit of the public”

Moves are being made for the government to get their hands on money in accounts that have been idle for a long time.

The director of public finance Suwichon Rotjanawanich wants to see a change in regulations so that accounts containing more than 2,000 baht that have had no activity for ten years can be legally seized.

Suwichon anticipates that there is 10 billion baht in such bank accounts.

He claimed it was not to line state coffers but to bring money into the public domain for the benefit of all.

Account holders or their heirs would still be able able to present evidence to make claims on seized assets.

Meetings will be held in December to discuss the matter, reported Daily News.

Thai VisaDaily News

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