# SEC collaborates with businesses and agencies to strengthen mule account prevention efforts

- Link: https://www.thailand-business-news.com/markets/197666-sec-collaborates-with-businesses-and-agencies-to-strengthen-mule-account-prevention-efforts
- Published: 2025-02-27T16:36:56+07:00
- Author: SiamNews PR

**The SEC, TDO, and other relevant agencies organized a workshop to enhance measures
against mule accounts in digital asset transactions, aiming to combat investment
scams, money laundering, and cybercrimes. Industry standards were developed as part
of the initiative.**

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Bangkok, 25 February 2025 – The Securities and Exchange Commission (SEC), in collaboration
with the Thai Digital Asset Operators Trade Association (TDO), digital asset business
operators, and relevant organizations, organized a workshop to lay out more measures
for tackling mule accounts to strengthen prevention against investment scams and
improve the suppression of money laundering and cybercrimes. The workshop was held
on 24 February 2025.

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In this workshop, the SEC, the TDO, and digital asset business operators joined 
forces with relevant agencies including the Bank of Thailand, the Cyber Crime Investigation
Bureau, the Central Investigation Bureau, the Anti-Money Laundering Office, and 
the Thai Bankers’ Association, to establish additional measures and industry standards
to address the issue of victims’ funds being transferred through digital asset mule
accounts. Moreover, individuals identified as mule account holders will face restrictions
on certain transactions that pose a risk of money laundering. 

Ms. Jomkwan Kongsakul, SEC Deputy Secretary-General, said: “Over the years, the 
SEC has been working closely with the TDO and digital asset business operators to
prevent the misuse of digital assets as a channel for money laundering by criminals.
The SEC and the TDO have jointly developed guidelines for monitoring and investigating
suspicious accounts. In today’s meeting, apart from enhancing industry standards
to tackle digital asset mule accounts, we have issued measures for addressing different
types of mule accounts within an expedited timeframe.

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Additionally, guidelines were established for data sharing and coordination among
digital asset business operators, the banking sector, law enforcement, and relevant
agencies to improve efficiency in preventing victims’ funds from being transferred
out through digital asset mule accounts. Furthermore, the SEC has implemented preventive
measures against investment scams from the start, such as issuing alerts and educating
the public about investment scam tricks and collaborating with relevant agencies
to block social media accounts engaged in fraudulent investment activities.  

“The SEC examines the customer identity verification (KYC/CDD) systems of digital
asset business operators regularly through both on-site inspections and off-site
monitoring to ensure that they comply with relevant regulations, measures, and business
standards,” added Deputy Secretary-General.  

**Source** : [SEC teams up with business operators and relevant agencies in a workshop to strengthen preventive measures against mule accounts](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=11581&rand=113627)