Thailand's government has escalated its efforts against money laundering linked to call-centre gangs and other fraud operations, with the suspension of over 1.66 million bank accounts in 2024. The crackdown, led by Digital Economy and Society (DES) Minister Prasert Chantararuangthong, has also resulted in the arrest of 2,495 individuals for involvement in operating mule accounts and SIM cards used for money laundering.

Those found guilty of selling or allowing others to use their personal bank accounts face penalties, including up to three years in prison and a fine of up to 300,000 baht.

They may also be charged as accomplices to the fraudsters, facing potential lawsuits from victims.

As part of the ongoing effort, Prasert highlighted the importance of stricter controls being implemented by the Bank of Thailand (BOT) on financial institutions and electronic money service providers.

These institutions are being required to enhance monitoring, especially for accounts with abnormal or high-risk activity.

Additionally, online financial service providers found to be facilitating the opening of accounts for criminals will face suspension under new regulations.

Prasert also issued a strong warning to the public, urging individuals to avoid selling their bank accounts under any circumstances, as this could lead to severe penalties.

He advised those who have already been tricked into selling accounts to immediately close them to avoid being involved in criminal activities and to protect themselves from prosecution.