The SEC has issued guidelines requiring business operators to implement enhanced processes from the account opening stage, including the identification of the Ultimate Beneficial Owner (UBO), particularly in the case of juristic persons, the verification of the reasonableness of the source of funds, and the monitoring of customer transaction behavior. Where irregularities are identified, Enhanced CDD must be conducted, and suspicious transaction reports must be filed in accordance with the criteria of the Anti-Money Laundering Office (AMLO). Furthermore, measures are prescribed to control incoming and outgoing account transactions to ensure a clear audit trail, such as requiring deposits and transfers to be made through accounts bearing the same name as the customer, in order to prevent the use of mule accounts and money laundering.

This set of guidelines was developed through collaboration between the SEC, relevant government agencies, including the AMLO and the Central Investigation Bureau, as well as business operators in the capital market. The objective is to enhance supervisory standards in line with evolving risks and to strengthen the overall effectiveness of preventing misconduct in the overall capital market system.

Mrs. Pornanong Budsaratragoon, Secretary General of the SEC, said, “The SEC recognizes the need to enhance standards for capital market business operators, starting from Know Your Customer (KYC) and Customer Due Diligence (CDD) processes, as well as the ongoing monitoring and scrutiny of customer transactions, to ensure that these processes are comprehensive and robust. The issuance of these guidelines will help improve the effectiveness of preventing money laundering and technology-related crimes, while reinforcing long-term confidence in the Thai capital market.”

These guidelines will come into effect on 16 August 2026 onwards.

Further details of the guidelines on Know Your Customer (KYC) for the identification of the Ultimate Beneficial Owner (UBO) and the monitoring and scrutiny of customer transactions are available (in Thai) at the following link: https://publish.sec.or.th/nrs/11160s.pdf