Here is the rewritten article in markdown format:

Banking Regulations Tightened in Thailand

==============================================

Enhanced Security Measures Introduced by Thai Government

Bangkok, August 23, 2016 - The Thai government has taken a significant step to strengthen security and stability in the banking sector. According to a recent notification from the Bank of Thailand, financial institutions are required to implement effective mechanisms for customer identification and verification, commonly known as “Know Your Customer” (KYC).

Key Requirements

Financial institutions must establish robust systems for accepting deposits and receiving money from the public via electronic means.
Only natural persons are allowed to receive these services, and banks must ensure that their e-KYC is available and effective.
To verify customers who are not present in person, banks must use video conferencing equipment or other electronic devices to interview and observe their behavior on a real-time basis.
Deposits made through virtual teller machines or kiosks require identification documents to be examined using smart card readers and the government’s fingerprint verification system.

Implementation Timeline

Financial institutions have until the end of this year to improve their internal systems, standards, and risk management. As these changes come into effect, both commercial banks and their customers will face a higher level of scrutiny when financial institutions accept deposits and receive money from the public.

Goals and Impact

The regulations aim to enhance transparency and stability in the banking sector, and are expected to have a positive impact on the credibility of commercial banking business in Thailand.

For More Information

Contact Cynthia M. Pornavalai at email protected or +66 2653 5559 for more information about these regulations or other banking-related matters.