FATF status

Thailand is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Thailand was undertaken in 2023. According to that Evaluation, Thailand was deemed Compliant for 4 and Largely Compliant for 29 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 4 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Thailand ranks 108 out of 180 countries on Transparency International's Corruption Perceptions Index, indicating significant corruption challenges despite existing legal frameworks aimed at combating it. The Thai government has implemented various anti-corruption laws and initiatives, including the Organic Law to Counter Corruption and the Anti-Corruption Organization of Thailand, which promote transparency and accountability in public procurement. However, enforcement remains weak, and bribery and corrupt practices persist, particularly under the current military regime.

Thailand is an upper middle-income country with a robust economy valued at half a trillion dollars, characterized by pro-investment policies and advanced infrastructure. The government has prioritized foreign direct investment and domestic stimulus as key components of its economic growth strategy, particularly following the May 2023 elections, and has successfully attracted significant investments from U.S. companies.

Thailand has a generally pro-investment climate, supported by well-developed infrastructure and a civilian-led coalition government that prioritizes foreign direct investment as part of its economic growth agenda. The Foreign Business Act governs foreign investment, while the U.S.-Thai Treaty of Amity provides U.S. businesses with significant advantages, allowing them to operate on similar terms as Thai companies. Additionally, the Board of Investment offers incentives for both domestic and foreign investors, particularly in high-tech and sustainable industries, further enhancing Thailand's attractiveness as an investment destination.