Anti-Money Laundering Regulations in Thailand

Retention of Information

According to Section 2226, financial institutions are required to retain certain information for a period of five years from the date that the account was closed or the termination of relationship with the customer.

• Customer Identification: Information related to customer identification under Section 20 must be retained for five years.
• Financial Transactions and Records: Information related to a financial transaction or record of facts under Section 21 must also be retained for five years.

Duty to Keep Records

Section 22/128 states that financial institutions and professions under Section 16 (1) and (9) must keep due diligence records under Section 20/1 for five years from the date the account was closed or relationship had been terminated, unless there is a necessary and reasonable matter.

Extension of Period

The Secretary-General has the power to notify in writing to extend the period in respect of a specific customer for the benefit of executing this Act and shall report such act to the Board (Section 11).

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