Why Thailand wants to put extra tax on physical gold - CNBC TV18

Armstrong Economics on Instagram: "Thailand has become a test case for the use of biometric data in every facet of life. Facial recognition data is required for any single transfer above 50,000 baht (around $1,580), daily transfers above 200,000 baht, and any international transfers from personal accounts. All major Thai banks, such as Bangkok Bank, Kasikorn (KBank), SCB, Krungthai, and Krungsri, require customers to submit biometric data, and the Bank of Thailand (BOT) provides the general guidelines that these banks must follow. It may begin with banking and documentation, but the ultimate goal is to develop digital IDs that are stored on a centralized database. The board of Thailand’s National Broadcasting and Telecommunications Commission (NBTC) proposed that users must submit biometric data to register SIM cards. The rule went into effect in August and applies to everyone in Thailand, including tourists. The Thai Ministry of Public Health (MOPH), the Thai Red Cross Society, and the National Science and Technology Development Agency (NSTDA) has implemented the use of biometric data to track undocumented persons. Health agencies claim the technology can identify the spread of disease and assist in providing humanitarian aid and medical services. The MOPH claims the technology is 99.75% accurate. According to the Department of Labour’s Bureau of Alien Workers Administration, over 1 million undocumented migrants were in the nation as of July 2025. “The application of biometric technology not only improves healthcare, disease prevention and control, medical services, and humanitarian aid with accuracy and inclusivity, but also reflects the protection of human rights and dignity of undocumented people in Thailand. It also creates opportunities for education and research by Thai public health professionals to develop further benefits for the general population,” Health Minister Somsak Thepsuthin stated. The Thai Red Cross Society is a branch of the global Red Cross agency. Thailand’s Personal Data Protection Act (PDPA) claims all personal data will be securely protected, but they have already begun sharing with international agencies. Click link in bio for full post."

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