Although recent reports of small-scale fraud have diminished, grey capital transactions—or money laundering by criminals—continue unabated through various channels, ranging from cryptocurrencies to securities businesses. This has prompted regulatory authorities such as the Securities and Exchange Commission (SEC) to prepare enhanced oversight measures to reduce these illicit funds.
Recently, Anek Yuyeun, Deputy Secretary-General and spokesperson for the Securities and Exchange Commission (SEC), said at an SEC media briefing that all agencies have maintained strict ongoing regulatory supervision. Previously, criminals used mule accounts through banks or exploited digital asset operators' channels. However, as these channels tightened, suspicious transactions by criminals have sought new routes. Since late 2025, such signals have been observed in the securities business.
Therefore, within the third quarter of 2026, the SEC will issue guidelines for securities business operators (brokers) to strengthen customer due diligence (KYC) and customer due diligence (CDD) procedures. This includes verifying the source of funds, identifying the true owners, and ensuring transactions align with the company's financial standing—assessed via registered capital, credit lines for stock trading, and so forth. The SEC has consulted with operators and plans to enforce these guidelines starting 16 August 2026.
"One key aspect is the KYC/CDD verification mechanisms, which the SEC already regulates. For example, it sets criteria and conducts on-site inspections of securities firms to ensure compliance. Noncompliance results in penalties, with fines up to approximately 300,000 baht per case and daily fines of 10,000 baht until corrected," Mr. Anek said.
Criminals continually devise new methods to evade laws, so the SEC must intensify and deepen its regulatory oversight by issuing new guidelines aligned with evolving circumstances. Recently, it has taken multiple actions, such as shutting down over 58,006 crypto mule accounts (as of April 2026). Regarding the Travel Rule, progress is ongoing with clarity expected within this year.
Furthermore, in 2026 (January-May), there were 4,307 reports and consultations related to investment scams, reflecting increased public awareness of fraud. Seeking advice from the SEC may help reduce potential losses.
Additionally, in the third quarter of 2026, the SEC will issue new regulations to enhance internal auditor oversight for listed companies applying for securities offerings (IPOs). These regulations mandate that every company appoint a chief internal auditor meeting two main qualifications.
1. Knowledge and skills, including required certifications such as CIA, IAP, and CPIAT.
2. At least five years of work experience, with a minimum of three years specifically in internal auditing.
Initially, discussions will be held with the Stock Exchange of Thailand (SET) to align listed company governance regulations with the SEC's new standards. A public hearing with relevant agencies is expected between June and July.
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