Picture courtesy of Daily News

 

Cyber police have dismantled an illegal cryptocurrency trading company accused of laundering money for call centre scam networks, with an estimated cash flow exceeding one billion baht per month. Nine suspects, including the company’s director and several “mule account” operators, were arrested during coordinated raids across seven provinces.

 

At a press conference on 10 October 2025, held at the Cyber Crime Investigation Bureau (CCIB) headquarters in Muang Thong Thani, senior officers including Pol Maj Gen Chatchaphantakan Klaiklueng, Pol Maj Gen Siriwat Deepor, Pol Maj Gen Sarayut Junnawat, and Pol Maj Gen Songklot Krikkritaya announced the arrests. They revealed that the unregistered digital currency exchange, Ant Currency Account Co., Ltd., was being used to conceal illicit funds obtained through widespread call centre scams.

 

The crackdown followed an investigation ordered by CCIB Commissioner Pol Lt Gen Surapol Prembutr to strengthen action against online fraud and financial cybercrime. The case began when a victim reported losing over 3 million baht to a call centre scam. Investigators from the CCIB’s Division 2, in coordination with Siam Commercial Bank’s digital fraud prevention unit, traced the flow of stolen money through multiple mule accounts.

 

According to Pol Maj Gen Sarayut, the investigation found that the funds were withdrawn in cash from Thai banks before being converted into digital currency via the unlicensed crypto firm. Financial tracking revealed that the company had an enormous monthly turnover exceeding one billion baht, with transactions structured to obscure their origin.

 

Pol Col Khunapayon Areeyarattanathon, head of intelligence analysis at CCIB Division 2, said officers gathered sufficient evidence to obtain search warrants from the Chachoengsao Provincial Court (Warrant No. 295/2568, dated 6 October 2025). Police raided multiple locations in Bangkok, Samut Prakan, Ratchaburi, Nakhon Pathom, Chachoengsao, Chiang Mai, and Chonburi, executing 11 warrants and arresting nine individuals.

 

The suspects include Mr. Chinphat, 21, company director; Ms. Patcharanat, 35, responsible for converting cash into cryptocurrency and several others who opened or controlled mule bank accounts to withdraw and transfer illicit funds. Police also seized four mobile phones, two computers, one tablet, 22 bank books and five ATM cards.

 

Authorities said the operation marks a major breakthrough in targeting money laundering infrastructure supporting call centre scams. The suspects face multiple charges, including operating an unlicensed digital asset business and money laundering. Further investigations are underway to trace remaining network members and associated financial assets.

 

 

Key Takeaways

 

• Police arrested nine suspects from an unregistered crypto firm laundering over one billion baht a month for call centre scams.

• Raids were carried out across seven provinces, seizing devices, bank accounts, and financial evidence.

• The firm operated without SEC registration, converting stolen funds into digital currency to hide their origin.

 

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  Adapted by Asean Now from Dailynews 2025-10-11

 

 

 

 

 

 

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