November 6, 2025
BANGKOK – Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, on Wednesday announced that the Subcommittee on Financial Data Integration has approved the establishment of a Data Bureau to link and consolidate financial information across multiple agencies. The initiative aims to enhance Thailand’s financial oversight framework to meet Financial Action Task Force (FATF) standards. The system is expected to be fully operational by December 2025.
Ekniti explained that the initiative will address systemic weaknesses in financial monitoring. “We are using real case studies to trace financial flows and identify legal loopholes,” he said. “By the end of November, we expect to finalise the Data Bureau’s structure, and by December, Thailand will have a financial governance system aligned with international standards.”
The Data Bureau will serve as a central hub for gathering and analysing data to close gaps caused by fragmented systems across agencies. It will focus on detecting suspicious transactions through three key mechanisms:
- Identity verification (Know Your Customer/Profiling): Ensuring individuals and entities are genuine and not acting as nominees. While banks already follow strict KYC protocols, unregulated sectors such as gold trading and cryptocurrency remain vulnerable.
- Behavioural analysis: Identifying abnormal financial behaviour inconsistent with an individual’s profile — for example, unusual money flows linked to tourists or business operators.
- Transaction tracing: Monitoring fund movements through exchanges or the Bank of Thailand’s financial channels.
The working group also noted legal barriers between agencies such as AMLO, the Bank of Thailand, and the Securities and Exchange Commission, particularly under laws restricting data sharing, including the Personal Data Protection Act (PDPA) and Revenue Code. However, exceptions can be applied for public interest purposes to enable cross-agency cooperation.
Meanwhile, the Ministry of Justice is expediting amendments to address loopholes in existing laws, especially those concerning beneficial ownership — identifying the true individuals behind financial transactions. Under FATF protocols, any cross-border transfers involving foreign nationals or tax haven jurisdictions will require international legal cooperation and data exchange.
Ekniti added that the committee will reconvene in two weeks to review legal gaps and data-sharing constraints, reaffirming the government’s goal of establishing a global-standard financial surveillance system for detecting and preventing suspicious transactions.
The working group consists of representatives from various regulatory and law enforcement agencies, including:
- Ministry of Finance
- Ministry of Commerce (particularly the Department of Business Development)
- Ministry of Justice
- Anti-Money Laundering Office (AMLO)
- Customs Department
- Revenue Department
- Department of Special Investigation (DSI)
- Royal Thai Police (including the Commander of the Crime Suppression Division)
- Bank of Thailand (BOT)
- Securities and Exchange Commission (SEC)
- Thai Bankers’ Association
- State Financial Institution Association
- Experts
- Director of the Fiscal Policy Office (FPO) as the Secretary.