The Thai government has prosecuted 820 cases of nominee businesses, resulting in nearly 12.5 billion baht in damages, and identified over 200,000 potential mule accounts nationwide.
- Authorities in Thailand have prosecuted 820 cases of nominee businesses, resulting in nearly 12.5 billion baht in damages, with these businesses operating in various sectors such as tourism, online marketplaces, and real estate.
- The government has identified over 200,000 mule accounts nationwide, with the Anti-Online Crime Operation Center submitting a list of potential mule account holders to relevant agencies for further action.
- State agencies are committed to conducting thorough investigations nationwide to eliminate nominee businesses, combat the distribution of substandard imports, and shut down foreign businesses that violate the law.
These actions are part of a coordinated effort across multiple agencies to crack down on nominee businesses, particularly those involving Thai citizens holding shares on behalf of foreigners to bypass the Foreign Business Act, and the trade of substandard imported goods
The affected industries include tourism, online marketplaces, construction, accounting, land transport, and real estate. The Anti-Online Crime Operation Center has submitted a list of potential mule account holders to the Central Investigation Bureau, the Anti-Money Laundering Office, and the Department of Special Investigation for further action. State agencies will continue to investigate and eliminate nominee businesses and combat illegal activities.
The authorities aim to strengthen regulations and enhance cooperation between public and private sectors to prevent financial crimes. Efforts will also focus on raising public awareness about the risks associated with mule accounts and fraudulent activities. Businesses operating within the affected industries are urged to comply with legal standards and cooperate with ongoing investigations to ensure transparency and accountability.
