The Thailand Office of Insurance Commission (OIC) published an update on its meeting with the Bank of Thailand to discuss how to pursue cases against individuals or companies operating without authorisation, with the central bank seeking to adapt the approach for cases involving unauthorised banking activity. At the 28 August 2025 discussion, the OIC outlined its principles and operating methods for criminal, administrative and other legal action against unlicensed insurance business operators and unlicensed insurance intermediaries. The two agencies exchanged know-how and discussed integrating information to support legal proceedings and supervisory and consumer protection objectives. The OIC highlighted its use of technology tools, including CARES (Comprehensive Anti-Fraud & Risk Elimination System) and IRIS, to analyse, detect and report potentially fraudulent insurance behaviour, as well as licence revocation or suspension for insurance agents and brokers with improper conduct, alongside ongoing development of artificial intelligence to improve enforcement effectiveness.
Thailand Office of Insurance Commission 2025-09-18
Thailand Office of Insurance Commission shares prosecution approach for unlicensed insurance activity with the Bank of Thailand
The Thailand Office of Insurance Commission (OIC) and the Bank of Thailand discussed strategies for pursuing unauthorised operators in the insurance and banking sectors. The OIC detailed its enforcement methods, including the use of technology tools like CARES and IRIS for fraud detection and licence management. The agencies aim to integrate information to enhance legal proceedings and consumer protection.