Investment Fraud
- Thailand News
Thailand law change to combat pyramid schemes after iCon scandal
Thailand is moving swiftly to draft amendments aimed at closing loopholes in various laws to better combat pyramid-like schemes as announced by Deputy Finance Minister Julapun Amornvivat today, October 22. The initiative comes in response to the extensive damage caused by The iCon Group’s direct sales scandal. Prime Minister Paetongtarn Shinawatra tasked multiple agencies, including the Justice Ministry and Finance…
- Thailand News
Temple abbot found dead after 650,000 baht fraud in Ayutthaya
A tragic case has emerged involving the abbot of a temple in Sena district, Ayutthaya province, who was found dead in his quarters. A handwritten note left by the 68 year old abbot revealed deep distress over financial betrayal. Police in Ayutthaya issued a summons for a man who allegedly deceived the abbot into lending him 650,000 baht. If found guilty,…
- Thailand News
Thai police arrest key figure in dating app scam gang
Thai police have apprehended a key member of a hybrid scam gang targeting victims on dating apps and tricking them into investing in digital currency, resulting in losses exceeding 500,000 baht. Officers arrested 35 year old Yupaporn in front of her residence in Nong Prue, Bang Lamung, Chon Buri. The arrest followed a warrant issued by the Taling Chan Criminal…
- Thailand News
Thai cyber police bust fraud gang posing as Citibank
Thai cyber police dismantled a fraud network posing as a well-known bank, luring victims with promises of high returns on minimal investments. A victim lost over 1.1 million baht after being deceived by the scam. A stranger contacted the victim via the LINE messaging app yesterday, sending a link that led to an advertisement claiming to be from Citibank. The…
- Retire in Thailand
Scams that can ruin your retirement plan in Thailand
The process of retirement planning, particularly when considering a unique location such as Thailand, demands a careful and knowledgeable strategy. In manoeuvring through this complex procedure, it is crucial to remain aware of potential hindrances that could adversely affect the peace of your retirement years. Ranging from understanding the intricacies regarding taxation on lump-sum retirement funds to discerning potential misinformation…
