70. Are reporting entities required to enforce enhanced due diligence policies and procedures regarding politically exposed persons?

"Number 2       Occupation under Section 16 paragraph one (2) (3) (4) (5) (6) (7) (8) and (10) shall consider any risk factor raised from customer side e.g. the case that information of customer or real beneficiary of customer is a politically exposed persons of Thailand, which is a high-risk customer.

            In case the customer is a politically exposed person of Thailand, the occupation under Section 16 paragraph one (2) (3) (4) (5) (6) (7) (8) and (10) shall consider whether any business relations or commercial affairs may be in a high risk of money-laundering derived from malpractice which is a fundamental fault or not.

Number 3       The procedures of considering a natural person as a politically exposed person of Thailand comprise:

            (1) high-level officers holding important position in the Legislative, Executives, and Judiciary bodies;

            (2) high-level officers holding important powers and duties of controlling and administrating the central government, local entities, state enterprises or other state agencies;

            (3)  high-level officers holding important powers in manipulating the military and the police;

            (4) high-level officers holding position in constitutional organizations.

            Politically exposed persons of Thailand shall include persons under paragraph one who retired for no more than one year of persons who have an active role in the previous position for more than one years."

Source: Number 2-3, 2017 Anti-Money Laundering Organization Notification on the Politically Exposed Persons, 2017 (Unofficial translation by the researcher)

This notification considers PEPs as a risky customer group in doing business and money-laundering.