money laundering
- World News
Singapore grapples with massive US$740 million money laundering scandal
Singapore is grappling with one of its largest-ever money laundering cases, involving over S$1 billion (US$740 million) of assets. Individuals, recently arrested and charged, allegedly held millions from unauthorised lending in China and illicit gambling in numerous banks such as United Overseas Bank, Citigroup and RHB Bank’s local units. Attempted fraud using counterfeit documents was also reported on banks including…
- Thailand News
Call centre scam crackdown: Thai cyber police nab nine, seize 300 million baht in evidence
A significant blow has been struck against the fraudulent operations of a call centre gang, masterminding scams worth over 300 million baht, as the cyber police arrested nine individuals and seize numerous items of incriminating evidence. Officers from the Crime Technology Investigation Department at Thong Thanee today were successful in their crackdown against this notorious gang in Mae Sai, Chiang…
- Thailand News
Thai state bodies unite to curb money laundering via digital assets
In an unprecedented act of collaboration, five Thai state bodies are colluding to tackle illicit fiscal operations and money laundering across national frontiers, reveals Traisuree Taisaranakul, the deputy government spokeswoman. The cooperative pact encompasses the Royal Thai Police (RTP), the Revenue Department, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (Amlo), and the Bank of Thailand (BoT). Traisuree…
- Thailand News
Interpol sought over Stark Corp scandal as losses mount to 38 billion baht
Interpol is currently sought by the Department of Special Investigation (DSI) to issue a red notice for the pursuit of the former chairman of a company known as Stark Corp, on charges of financial misconduct. The DSI issued this plea after the chairman did not adhere to the call to report to the DSI for acknowledging charges related to Stark’s…
- Thailand News
Money laundering mastermind nabbed: Chinese man busted in Pattaya for multibillion-baht scam operation
Thai authorities apprehended a Chinese man in Pattaya on charges of money laundering over 2.5 billion baht for the scam call centre gang based in Cambodia. The crackdown, led by the Thai Immigration Bureau (TIMB), was carried out in response to instances of criminal behaviour causing harm to citizens and tarnishing the country’s image. Details of the operation were released…
- Politics News
Thai senator faces indictment on money laundering, criminal organisation charges
A Thai Senator Upakit Pachirirangkun faces indictment on charges of money laundering and involvement in a transnational criminal organisation, according to Kosolwat Inthuchanyong, the spokesman for the Office of the Attorney-General. The decision follows a police investigation into the senator’s alleged connections with illicit activities, Bangkok Post reported this morning. However, 61 year old Upakit denied the charges. In a press conference…
- Thailand News
Court dismisses gambling, money laundering charge against Long Joo Somchai
The Criminal Court has dismissed a third gambling and money laundering charge against Somchai Jutikitdecha, also known as “Long Joo” Somchai, due to insufficient evidence. The case also involved his company and five other defendants, including Somchai’s son. Somchai was arrested in February 2021 at his home in tambon Mueang Phra, Rayong’s Muang district, following police raids on 10 locations…
- Crime News
Prosecutors requested to charge Kong Salak Plus CEO by DSI
Thailand‘s Department of Special Investigation (DSI) has requested that prosecutors bring charges against Panthawat “Nott” Nakwisut, the beleaguered proprietor of the now-defunct Kong Salak Plus online lottery platform, and 16 others for money laundering and gambling offences. On Friday, DSI detectives submitted their findings to the public prosecutors at the Attorney-General’s Office in Bangkok, situated on Ratchadapisek Road. Pongsathon Inamnuay,…
- Crime News
Thai police to seize rare Lamborghini from alleged ‘macau888’ gambling network kingpin
Thailand’s cyber police say they will seize a super rare Lamborghini owned by the alleged owner of the illegal online gambling network ‘macau888‘ today. The Lamborghini Mad Bull Liberty Walk Aventador V2 is one of only 50 in the world with an estimated value of 37 – 44 million baht. It is the only one in Thailand. The ‘Liberty Walk’…
- World News
Thailand to extradite alleged Malaysian scammer to China
A Thai court ordered a wanted alleged Malaysian scammer to be extradited to China to face charges related to fraud on Wednesday. Both Malaysia and China requested the repatriation of Tedy Teow Wooi Huat, the founder of the Mobility Beyond Imagination Group (MBI), after he was allegedly linked to numerous scams, reports the Straits Times. Penang-born Teow attended a virtual…
- Crime News
Bangkok court grants bail to Tuhao’s wife for 2 million baht
Southern Bangkok Criminal Court granted bail to Pol. Col. Wanthanaree Kornchayanan – the wife of Chinese gangster Tuhao – for securities of 2 million baht this afternoon. Yannawa Police arrested and detained Wanthanaree and nine others yesterday on transnational drug and money laundering charges. The court does not usually grant bail to those accused on such serious charges in case…
- Expats
PayPal to lock out Thai users at end of month
Most PayPal users in Thailand will be locked out of the service next month unless they jump through a series of complex and quite silly hoops that are intelligible only to Thai citizens. After a year of nothing but statements, PayPal told customers this morning that they cannot use the service after December 15 unless they take “certain actions” that,…
- Thailand News
Thailand introduces new rule for cash deposit machines
On November 15, people depositing cash into their bank account via cash deposit machines (CDMs) in Thailand will have to insert their credit or debit card and PIN to verify their identity. The Anti-Money Laundering Office (AMLO) said the new identification requirement is a safety measure to prevent money laundering earned from drug trafficking, gambling, and other criminal activity. Bank…
- South Thailand News
Malaysian man arrested in Thailand for laundering gambling money
Luck may have run out for a rich Malaysian businessman who allegedly laundered money from online gambling as police picked him up in Sadao in the Deep South Thai province of Songkhla. Teow Wooi Huat also known as Tedy or Jho Low 2, is accused of laundering money connected to online gambling in Thailand and is also wanted in Macau…
- Phuket News
Two Ukrainian fugitives arrested in Phuket over US tax evasion scandal
Two Ukrainian nationals wanted for fraud and tax evasion in the US were arrested in Phuket on Tuesday. The men fled to Thailand after warrants for their arrest were issued in Florida earlier this month. The pair are accused of providing employment for hundreds of illegal immigrants in America from 2007 – 2021 and evading $10 million in employment taxes.…
- World News
Thailand and Cambodia agree to intenstify crackdown on call-centre scams
Thailand and Cambodia are reportedly working together to combat transnational online scams. Officials from both Southeast Asian countries met via video conference to discuss intensifying crackdowns on deceptive call centres and investment scams that have extorted money from citizens of both countries. During the virtual meeting with Cambodia’s Minister of Posts and Telecommunications Chea Vandet, Thailand Digital Economy and Society…
- Phuket News
DSI says land documents were illegally issued for the Phuket “Sri Panwa” resort
The luxury resort in Phuket accused of land encroachment will now be investigated by the National Anti-Corruption Commission, the Department of Land, and the Anti-Money Laundering Office. Thailand’s Department of Special Investigations looked into the “Sri Panwa” project in Phuket and said that the resort illegally acquired land rights documents. According to Nation Thailand, the DSI found that Sri Panwa…
- Thailand News
Pair allegedly steals phone cards valued at 240 million baht
Yesterday, 2 people have been arrested for allegedly stealing prepaid phone cards. Collectively, they caused north of 200 million baht in damages. The two phone card nabbing suspects are 43 year old Naret Chamnong and 46 year old Phatcharalak Waenwong. They are both former employees of a mobile phone operator. Police searched 2 locations yesterday in Bangkok and Saraburi, a…
- Crime News
Illegal casino operator accused of 4 charges including murder
A man who is alleged to have been running illegal casino operations is now facing indictment on 4 charges, including murder. The Crime Suppression Division has called for the charges to be filed against Somchai Jutikitdecha, the 56 year old suspect that goes by Longjoo Somchai. The CSD first arrested Longjoo back in February of 2020, accusing him of being…
- Economy News
China arrests 1,100 in cryptocurrency money laundering bust
In what will only fuel perception in China that cryptocurrency is nothing more than a money laundering tool, security officials have arrested 1,100 people accused of using criminal profits to buy crypto. Chinese officials have been cracking down on cryptocurrency trade, which is banned in the country. The Ministry of Public Security in China says that Chinese police reportedly caught…
- Crime News
Activists try to call off auction for cats confiscated in drug trafficking raid
With pedigree cats worth tens of thousands of baht up for auction by the Narcotics Control Board after being seized in a suspected drug network raid, animal rights activists in Thailand are calling on officials to suspend the auction. The cats, 5 Scottish Folds and a Bengal, were seized last week along with 35 million baht in assets suspected of…
- Economy News
4 Thai banks to be investigated for “suspicious transfers” after FinCEN files report
4 Thai banks are being investigated after an international money laundering report said the Thai banks had “suspicious financial transactions.” The report found 92 “suspicious” transactions in and out of Thailand totalling to $9,558,752 USD received in Thailand and $31,750,000 USD sent out. Files were allegedly leaked from the US Financial Crimes Enforcement Network, known as FinCEN, and journalists from…
- Crime News
Panthongtae Shinawatra is a free man after AG decides not to appeal acquittal
Panthongtae “Oak” Shinawatra, son of former PM Thaksin Shinawatra, is a free man, after Thailand’s Attorney General decided to not appeal against his acquittal for alleged money laundering. He was charged by the Department of Special Investigations after 10 million baht was deposited into his bank account by an executive of the Krisdamahanakorn Group of real estate companies, which was…
- World News
Dutchman jailed for 100 years in Thailand for money laundering is released
A Dutch citizen who was jailed for 100 years in Thailand, is now on his way home after years of campaigning for his release. His sentence was reduced to 75 years on appeal and later to 50 years by the Supreme court. Johan van Laarhoven, who ran several cannabis “coffee shops” in Holland, was jailed in Thailand for money laundering, along…
