New system to help screen nominee businesses

The Commerce Ministry is developing the Intelligence Business Analytics System (Ibas) to effectively screen and identify nominee businesses, with the system expected to be operational in August.

- PHUSADEE ARUNMAS

Voravongsa Ramangkura, vice-minister of commerce and chairman of the ministry's committee for digital policy and digital economy, said the Ibas system is a big data analysis tool designed to screen legal entities that might be nominee businesses, or violate the Foreign Business Act or related laws.

The advantage of Ibas is its ability to conduct targeted screening with high precision, and rapidly identify the connection between individuals and entities, he said. This capability enables authorities to tackle nominee businesses effectively.