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The Bank of Thailand (BOT) has introduced a new regulation to facilitate the Know-Your-Customer (KYC) process by using an electronic means for account opening for deposit acceptance or fund acceptance from public.

KYC is one of the required processes imposed on financial institutions and certain types of reporting entities under the anti-money laundering law (AML law). For financial institutions, they need to comply with both the KYC process under AML law and the criteria issued by the BOT as the supervising regulator.

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