BANGKOK, Thailand – Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas has announced the establishment of a new “Data Bureau” aimed at tracking suspicious financial transactions and curbing grey money circulation in Thailand. The initiative brings together multiple government agencies to strengthen financial oversight and align with international FATF (Financial Action Task Force) standards.
Chairing the first meeting of the Subcommittee on Financial Data Integration, Ekniti said the move is part of the government’s effort to elevate Thailand’s financial transparency and create a unified data system to identify suspicious activities linked to scams and illegal financial networks. The integrated data hub is expected to be operational by December 2025.
The Data Bureau will consolidate financial information from key agencies, including the Anti-Money Laundering Office (AMLO), Bank of Thailand, Securities and Exchange Commission (SEC), Revenue Department, and others. It will focus on three main areas:
Identity verification (KYC): Strengthening checks on individuals and entities, especially in loosely regulated markets such as gold and cryptocurrency.
Behavioral analysis: Detecting abnormal transaction patterns that deviate from typical profiles.
Transaction tracing: Following financial flows through exchanges, banks, and other intermediaries.
Ekniti noted that the Data Bureau will also help close legal loopholes in areas such as digital assets, private wallets, money changers, gold markets, and luxury asset purchases often used for money laundering.
The Ministry of Justice is drafting additional laws to strengthen the system, focusing on beneficial ownership — identifying the true individuals who benefit from complex financial transactions, including those involving foreign nationals and funds flowing through tax havens.
Participating agencies in the Data Bureau include the Ministries of Finance, Commerce, and Justice, AMLO, Customs Department, Revenue Department, Department of Special Investigation (DSI), Royal Thai Police, Bank of Thailand, SEC, the Thai Bankers’ Association, and the Government Bank Association. The Fiscal Policy Office (FPO) will serve as the secretariat. (TNA)
