On February 13, 2025, Thailand's government announced a significant crackdown on nominee businesses, leading to the prosecution of 820 cases involving illegal practices that resulted in damages estimated at 12.49 billion baht.

Deputy government spokeswoman Sasikan Wattanachan disclosed that the crackdown is a coordinated effort involving multiple agencies, including the Bangkok Metropolitan Administration, the Immigration Bureau, the Customs Department, the Food and Drug Administration, the Consumer Protection Board, and the Royal Thai Police.

The focus of these actions is on nominee businesses that exploit loopholes in the Foreign Business Act, particularly those involving Thai nationals holding shares on behalf of foreign investors.

Such practices are prevalent in various sectors, including tourism, online marketplaces, construction, accounting, transportation, and real estate.

Notable regions affected include major tourist destinations such as Bangkok, Phuket, and Prachuap Khiri Khan.

In addition to tackling nominee businesses, the Anti-Online Crime Operation Center of the Ministry of Digital Economy and Society has identified over 204,000 individuals linked to mule accounts, which are suspected of facilitating illegal financial transactions.

This HR-03 list, detailing these individuals, has been submitted to key agencies for investigation, including the Central Investigation Bureau, the Anti-Money Laundering Office, and the Department of Special Investigation.

These mule accounts are reportedly associated with 1,159 businesses across Thailand, suspected of engaging in illegal activities or financial misconduct.

Ms. Sasikan emphasized the government's commitment to conduct thorough investigations across the nation to eradicate nominee businesses, counter the distribution of substandard imported goods, and penalize foreign businesses that operate in violation of Thai law.