The Thailand Securities and Exchange Commission has issued guidelines requiring capital market business operators to strengthen Know Your Customer and Customer Due Diligence controls and to monitor customer transactions on an ongoing, risk-based basis. The measures are intended to reduce the use of the capital market for money laundering and technology-related crimes. The guidelines require enhanced checks from the account opening stage, including identification of the Ultimate Beneficial Owner, particularly for juristic persons, verification of the reasonableness of the source of funds, and monitoring of transaction behavior. Firms must carry out Enhanced CDD when irregularities are detected and file suspicious transaction reports in line with Anti-Money Laundering Office criteria. They must also control incoming and outgoing account transactions to maintain a clear audit trail, including requiring deposits and transfers through accounts in the same name as the customer to help prevent mule accounts and money laundering. The framework was developed with the Anti-Money Laundering Office, the Central Investigation Bureau and capital market operators, and will take effect from 16 August 2026.
Thailand Securities & Exchange Commission2026-05-29
Thailand Securities and Exchange Commission issues tougher KYC and transaction monitoring guidelines for capital market operators
The Thailand Securities and Exchange Commission has issued guidelines requiring capital market business operators to strengthen Know Your Customer and Customer Due Diligence controls and monitor customer transactions on an ongoing, risk-based basis to reduce money laundering and technology-related crimes. Firms must enhance checks at account opening, including Ultimate Beneficial Owner identification, source of funds verification and transaction behaviour monitoring, apply Enhanced CDD, file suspicious transaction reports when irregularities arise, and control transactions to maintain a clear audit trail and prevent mule accounts.