Thailand probes wealthy foreigners for money laundering scheme

[webfact]

 

 

 

The Central Investigation Bureau (CIB) in Thailand is currently investigating wealthy foreign nationals holding elite visas in the country on suspicion of being involved in illicit financial activities.

 

The investigation was triggered by the arrest of a Chinese national, Chen, aged 52, who used a Thailand Privilege Card visa to stay in the country and allegedly laundered large sums of money for call centre scam groups.

 

Chen, who was apprehended in Bangkok along with a Thai accomplice named Anan, is believed to be a key figure in money laundering for illegal scam syndicates in the region.

 

The police raid on his luxurious residence uncovered a significant amount of cash, electronic devices, bank account details, and assets totaling around 42 million baht. It was revealed that Chen managed digital wallets with transactions amounting to approximately 70 billion baht.

 

The arrest of Chen and Anan followed an extensive probe that began after the apprehension of five call centre gang members last year. These individuals were found to have operated a fraudulent website on the CIB Facebook page to defraud people and extort money from them.

 

Further investigations unveiled that Chen and Anan were involved in managing digital wallets for unlawful transactions and converting digital assets into cash. Multiple raids were conducted in Bangkok, Samut Prakan, Chachoengsao, and Nakhon Ratchasima resulting in the seizure of evidence and bringing in five additional individuals for questioning.

 

Chen, who lived in opulent surroundings, was found to have used a Thai nominee to make cash purchases of several properties. He held a five-year Thailand Privilege Card visa, allowing him to reside in the country as a member of the elite scheme.

 

The CIB is now targeting criminals utilizing Thailand Privilege Card visas to enter and exit the country for illegal activities. They are also paying attention to those connected to such individuals, including their family members who may have benefited from their illicit endeavors.

 

The Anti-Online Scam Operation Centre (AOC), established by the CIB and the Digital Economy and Society Ministry, works to combat technology-related crimes, including online scams and fraud. Despite their efforts, many individuals continue to fall victim to call centre scams, prompting the AOC to collaborate with Thai banks to monitor suspicious accounts and prevent financial losses.

 

As scammers evolve their tactics to include cryptocurrencies, the CIB is working with various entities to develop strategies against such activities in the future. The synergy between law enforcement, financial institutions, and regulatory bodies aims to safeguard the public from falling prey to similar financial fraud schemes.

 

TOP: CIB Comissioner Jirabhop Bhuridej. Picture courtesy: Daily News

 

-- 2024-05-13

 

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[Captain Monday]

Has Thailand Elite public company  implemented home country criminal checks in the application process yet?

 

[Geoffggi]

Really good publicity for the Thailand Privilege Elite Card system ..........................LOL  🤣😂😎 

[freeworld]

55 minutes ago, Captain Monday said:

Has Thailand Elite public company  implemented home country criminal checks in the application process yet?

 

And if the applicant is given the all clear and then comes to Thailand and commits crime? Would that help?

 

Banks should be regulated to do more rigorous KYC checks on who they do business with and the nature and legality of the business trading and any suspicious activity should be reported.

 

The fact that even tourists and non real resident can open bank accounts in Thailand should be dealt with.

 

Check the offshore leaks database, one will find many addresses linked to Thailand.

https://offshoreleaks.icij.org/

[Captain Monday]

It is true that some of the world’s most horrible people have never been criminally convicted or jailed. Just look at the headlines

 

But a simple review of home country arrest and conviction records could weed out the vast majority those already guilty of violence, social offenses, trafficking and frauds. Those are the most likely to reoffend once let into the Kingdom.

 

I don’t think one person comes from China or anywhere else then SUDDENLY becomes a major money launderer, drug dealer, or fraudster. 

[Jenkins9039]

1 minute ago, Captain Monday said:

It is true that some of the world’s most horrible people have never been criminally convicted or jailed. Just look at the headlines

 

But a simple review of home country arrest and conviction records could weed out the vast majority those already guilty of violence, social offenses, trafficking and frauds. Those are the most likely to reoffend once let into the Kingdom.

 

I don’t think one person comes from China or anywhere else then SUDDENLY becomes a major money launderer 

Yeah this is the thing that i don't understand (i have an elite visa) and when you applied they did criminal checks in Thailand, home-country and intepol.

[Captain Monday]

14 minutes ago, freeworld said:

And if the applicant is given the all clear and then comes to Thailand and commits crime? Would that help?

 

Banks should be regulated to do more rigorous KYC checks on who they do business with and the nature and legality of the business trading and any suspicious activity should be reported.

 

The fact that even tourists and non real resident can open bank accounts in Thailand should be dealt with.

 

Check the offshore leaks database, one will find many addresses linked to Thailand.

https://offshoreleaks.icij.org/

 

[Jenkins9039]

Offshore companies doesn't mean illicit.

16 minutes ago, Captain Monday said:

 

 

[OneMoreFarang]

Who was it again who had that idea with the privilege card? Hint: he is a Thai criminal.

And was anybody surprised that rich criminals used money to buy their stay in Thailand? What a surprise. Or maybe not?

[Korat Kiwi]

We all know this is yet another money making scam... 

 

Hello rich people, come to Thailand under our Privilege Scheme.  Stay a while.  Build up your assets. 

 

Then we will come and investigate and take everything.  Thank you for coming. 

 

Next year we will launch a new Elite Privilege Scheme.  Same same but different. 

 

I am not surprised. 

 

[Jenkins9039]

45 minutes ago, OneMoreFarang said:

Who was it again who had that idea with the privilege card? Hint: he is a Thai criminal.

And was anybody surprised that rich criminals used money to buy their stay in Thailand? What a surprise. Or maybe not?

It's not buying a stay.

 

That would be called 'using a agent'.

 

The elite card was a process that took 6-8 weeks, and was meant to go through a number of criminal background checks, domestic, international and citizen based.

 

You paid for the idea of doing it once and never having to deal with immigration routinely again in such a slow/archaic manner in which they deal with extensions etc 

 

Where there are numerous criminals (soft/hard) is in the form of those that utilise visa agents, one of my old neighbours can hardly walk but his passport goes over the border once a year for example.

 

I spoke to a Burmese builder owner and he said he doesn't deal with immigration but has agents for it, because it's 'easier' he's been here about 15 yrs and brought his entire family over.

 

 

[Jenkins9039]

26 minutes ago, Korat Kiwi said:

Build up your assets. 

 

Then we will come and investigate and take everything.  Thank you for coming. 

This is looking to be the case.

 

Like i mentioned above.

 

1) Criminal checks carried out -cleared.

 

Therefore you can't have 'laundering' as the funds are not 'illicit' as you are not a criminal.

 

Thailand of-course will meander around this.

[Korat Kiwi]

3 minutes ago, Jenkins9039 said:

It's not buying a stay.

 

That would be called 'using a agent'.

 

The elite card was a process that took 6-8 weeks, and was meant to go through a number of criminal background checks, domestic, international and citizen based.

 

You paid for the idea of doing it once and never having to deal with immigration routinely again in such a slow/archaic manner in which they deal with extensions etc 

 

Where there are numerous criminals (soft/hard) is in the form of those that utilise visa agents, one of my old neighbours can hardly walk but his passport goes over the border once a year for example.

 

I spoke to a Burmese builder owner and he said he doesn't deal with immigration but has agents for it, because it's 'easier' he's been here about 15 yrs and brought his entire family over.

 

 

 

I wouldn't call all people that use agents for immigration purposes criminals (Either soft or hard as you put it). 

 

That's a very wide brush stroke you used. 

[snoop1130]

Thai Privilege Card Scrutinised Following Revelations of Abuse by Criminals

 

 

Revelations have emerged regarding individuals with a criminal background exploiting the Thai Privilege Card, a long-term visa scheme for Thailand. Foreign criminals, operating within the country, are allegedly using the visa to maintain their illegal activities, prompting concerns from Thailand's Central Investigation Bureau (CIB).

 

The issue came to light following the arrest of a Chinese national, Chen Yon La, suspected of laundering considerable sums of money for call centre scam gangs. Chen, detained during a Bangkok raid, had been using a Thai Privilege Card visa, securing his indefinite stay in the country.

 

This Privilege Card, another version of the coveted Thailand Elite Visa, permits extended residence in the nation, ranging from five to even twenty years. An expensive upfront payment is required to obtain it, yet it offers privileges such as expedited immigration processes and multiple entries to the country.

 

Chen's illicit activities, however, have ignited concerns regarding the misuse of this long-term visa for money laundering and other criminal purposes. He managed digital wallets dedicated to unlawful transactions while enjoying his prolonged stay via his Thai Privilege Card.

 

The CIB is calling for enhanced monitoring to detect instances of visa misuse, alongside improved background checks on applicants' financial sources. The agency stressed the importance of information sharing between pertinent authorities, such as the Tourism Authority of Thailand and Thai Immigration services.

 

This case sheds light on the shifting strategies of criminal networks, including the use of cryptocurrencies to avoid detection. In response, the CIB is collaborating with banks, regulatory bodies, and digital asset businesses to develop strategies curtailing similar offences in the future.

 

Officials also reiterated the continuous threat posed by call centre scam gangs, emphasising the need for preventive measures to shield against financial losses. This incidence has significantly highlighted the loopholes present in Thailand's visa system, sparking a deep dive into ensuring its integrity.

 

Photo courtesy of Phuket GO

 

-- 2024-05-13

 

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[Gottfrid]

Good that they squeeze the ones who thought they were untouchable.

[OneMoreFarang]

1 hour ago, Jenkins9039 said:

Criminal checks carried out -cleared.

Is that a one-time process and if one time passed then the person is no criminal and never will be a criminal? Really? 

[eisfeld]

3 hours ago, webfact said:

These individuals were found to have operated a fraudulent website on the CIB Facebook page to defraud people and extort money from them.

 

Impressive. Operated a 2 Billion dollar scam on the Facebook page of the Central Investigation Bureau. No wonder they got angry. Also hot damn must the CIB have many followers. 🙂

[John Drake]

Thai Elite members, come on down!  LTR, you're next.

[Ben Zioner]

3 hours ago, Geoffggi said:

Really good publicity for the Thailand Privilege Elite Card system ..........................LOL  🤣😂😎 

It has been designed for this kind of people, but there are always political shifts...

[Ben Zioner]

2 minutes ago, John Drake said:

Thai Elite members, come on down!  LTR, you're next.

You miss one essential difference between the two programs: to get Elite you dump a few millions of your cash and off you go with your 10 or 20 years visa. To get LTR you have to show who you are and where your money comes from. That's probably some of those who would like to apply are whingeing.

[John Drake]

1 minute ago, Ben Zioner said:

You miss one essential difference between the two programs: to get Elite you dump a few millions of your cash and off you go with your 10 or 20 years visa. To get LTR you have to show who you are and where your money comes from. That's probably some of those who would like to apply are whingeing.

 

I might be mistaken, but I thought I read on AN that people with the LTR have an exemption from the overseas income tax. I don't know if Thai Privilege does or not. Either way, that's where the big money is, not with the little guys putting up 800,000 for a retirement extension. PTP is desperate for money. They'll find a way to come after LTR as well. These "probes" into money laundering are the thin end of the wedge.

[brianthainess]

2 hours ago, Jenkins9039 said:

never having to deal with immigration routinely again in such a slow/archaic manner in which they deal with extensions etc 

Archaic maybe but slow? takes me 2 hours for a Marriage visa/extension, and 1hr for retirement. 1,900 baht a year.

[isokulli]

1 hour ago, brianthainess said:

Archaic maybe but slow? takes me 2 hours for a Marriage visa/extension, and 1hr for retirement. 1,900 baht a year.

Takes me 20 more years to get retirement visa.

[Korat Kiwi]

21 minutes ago, isokulli said:

Takes me 20 more years to get retirement visa.

Young pup? 

[PremiumLane]

4 hours ago, Korat Kiwi said:

We all know this is yet another money making scam... 

 

Hello rich people, come to Thailand under our Privilege Scheme.  Stay a while.  Build up your assets. 

 

Then we will come and investigate and take everything.  Thank you for coming. 

 

Next year we will launch a new Elite Privilege Scheme.  Same same but different. 

 

I am not surprised. 

 

 

How do we all know then? So nothing to do with them being involved in call center scams, forget that, it must be cause of some made up fantasy in your head

[Ben Zioner]

1 hour ago, John Drake said:

 

I might be mistaken, but I thought I read on AN that people with the LTR have an exemption from the overseas income tax. I don't know if Thai Privilege does or not. Either way, that's where the big money is, not with the little guys putting up 800,000 for a retirement extension. PTP is desperate for money. They'll find a way to come after LTR as well. These "probes" into money laundering are the thin end of the wedge.

This investigation is carried out by CIB and is of a criminal nature. It has nothing to do with tax collection. They will simply confiscate the funds and deport the culprits, unless of course the right people get a sizeable cut. This will not change anything for law abiding Elite holders. And I can confirm that they don't benefit from any tax exemption. Even though I suspect that most of them won't care as they will simply limit the number of days they'll spend in the country.

 

Wether the RD 743 will be rescinded or not is a totally different matter. Since I don't want to deprive you from your schadenfreude I'll say that it could happen, or they may just close the LTR program and let existing visas run out. The latter seems more likely to me especially in light of a recent warning from BOI regarding the maintenance of credentials.

 

 

[transam]

5 hours ago, Jenkins9039 said:

Yeah this is the thing that i don't understand (i have an elite visa) and when you applied they did criminal checks in Thailand, home-country and intepol.

Perhaps the money big-wigs pick a mule with a clean background and then ply, promise guaranteed riches and lifestyle in Thailand, and so far has worked very well... 😋

[Gknrd]

These call center people (owners) are the scum of the earth. So good deal.

For normal retirees though Thailand is the land of "Do We Cheat Them and How" 

 

Is that Big Jokes replacement..

[Puccini]

Is money laundering not already on the list of professions reserved for Thais?

[gravity101]

15 hours ago, Korat Kiwi said:

 

I wouldn't call all people that use agents for immigration purposes criminals (Either soft or hard as you put it). 

 

That's a very wide brush stroke you used. 

Agree. If I didn't start using an agent a few years back I'd still be waiting on a plastic chair holding a ticket queue number.