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Just over two-thirds (69%) of respondents recognized that identity proofing happens for their protection. However, in Thailand some consumers are cynical about the reasons their identity is confirmed. While a large number (64%) recognize there is an element of regulation driving providers to carry out more checks, 27 percent think this is done to enable financial institutions to sell more. A majority (62 percent) of Thai respondents did see identity proofing as a way for banks to protect themselves, while 44 percent regard it as a tool to prevent money laundering. Most Thais are open to providing their bank with a biometric such as a facial scan, fingerprint, or voiceprint to secure their accounts. The survey revealed that once they understand why it s necessary,

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