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Thailand at Growing Risk of Becoming Money-Laundering Hub

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it appears they catch/found a needle in the haystack... 555

 

Parts of Southeast Asia, including the border areas between Thailand, Myanmar, and Cambodia, have become hubs for online fraud, with criminal networks earning billions from illegal compounds where trafficking victims are often forced to work.

The seizures and warrants involve Chinese-Cambodian tycoon Chen Zhi, who heads the U.S.-sanctioned Prince group  and Cambodian nationals Kok An and Yim Leak

Thailand seizes $318M in assets, issues 42 arrest warrants in scams crackdown

https://www.msn.com/en-xl/news/other/thailand-seizes-318m-in-assets-issues-42-arrest-warrants-in-scams-crackdown/ar-AA1RUfVJ?ocid=msedgdhp&pc=LCTS&cvid=693633fc5e214c18a8af6dc100025654&ei=98

 

 

 

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  • Growing? Always has been; and it’s a hub of everything else…

  • "Becoming"? 🤣

  • Middle Aged Grouch
    Middle Aged Grouch

    Like any country in the world. Banks or bureaucracy will fuss and harass decent people but the real crooks and scammers will get the VIP service and no hassles.   But on considering that eve

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It's a problem ! It will affect all Thai National and Non National with an endlessly burocratical burden .... 

23 hours ago, ronnie50 said:

Does that relate to the consistently, and illogically, higher baht (and if so, how)?

It is part of the problem - Yes.  The wealthy elite are taking a cut from all laundered money going through Thailand, and the higher the Baht the bigger their cut. 

50 minutes ago, scubascuba3 said:

As always they crack down on some people often foreigners first, did you know the police are corrupt?

Speaking of which - I hope Big Joke tears them a new aho***.  With an economic collapse looming, and an election that could change Thailand forever also looming - 2026 is going to be a huge year in Thailand's history.  It could all go very 'smoothly' and those in power remain in power, or it could go the way of Singapore and their corrupt empires will start to be torn down.  I think if the 'wrong' Party gains power in the election and starts to remove corruption in Thailand like Lee Kuan Yew did in Singapore, there could be another Coup and that will be disastrous economically - and will probably be the time to move out for many Expats. 

Guns, Girls, Gambling, Ganja: Thailand's Illegal Economy and Public Policy, this was written over 25 years ago, not much changed, 

 

Gambling, prostitution, drugs, arms trading, oil smuggling, and trafficking in people―these six illegal businesses are large and getting larger in Thailand. They distort the economy and victimize people. They are increasingly linked together through networks of protection and organized crime. They help to fund Thailand's corrosive "money politics" and to sustain corruption in the police. The authors argue that control of the illegal economy, especially through reform of the police, is vital for the development of a modern economy and functioning democracy.

Thailand said it would openly allow Bitcoin transaction, my comment was  playing into the hands of money laundrying crims.

7 hours ago, Marco100 said:

It's a problem ! It will affect all Thai National and Non National with an endlessly burocratical burden .... 

one thing is certain, any measures put in place to stop this  will affect normal honest people a lot more than any money launderers,   Leave them to carry on laundering for all i care

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