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ARTICLE · 28 JUNE 2024

Thailand Updates Customer Codes For Heightened Money Laundering Risk

Tilleke & Gibbins
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On May 17, 2024, Thailand's Anti-Money Laundering Office (AMLO) issued an amended Notification Concerning the Rules for Designating or Reviewing the List of High-Risk Customers...

ThailandGovernment, Public Sector
Chitchai Punsan
Chitchai Punsan
Panisara Chanruang Moleegul
Panisara Chanruang Moleegul
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On May 17, 2024, Thailand's Anti-Money Laundering Office (AMLO) issued an amended Notification Concerning the Rules for Designating or Reviewing the List of High-Risk Customers Who Require Close Monitoring under the Ministerial Regulation on Customer Due Diligence B.E. 2563 (2020). This notification, which took effect the following day, updates the previous version of the notification from 2022 to cover cybercrimes listed under the Emergency Decree on Measures for the Prevention and Suppression of Technological Crimes B.E. 2566 (2023). The amended notification sets out the steps that all financial institutions in Thailand must take to manage money laundering risks and to comply with the AMLO's mandatory Guidelines on Customer Due Diligence.

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