Thai police, in collaboration with the Ministry of Commerce, have launched a special operation called "Sweeping the Grey Economy Nest," focusing on cracking down on foreign criminal groups that use Thai names to register companies for illegal activities. These illegal acts involve drug trafficking, telecommunications fraud, and other major criminal cases, causing profound impacts on society and the economy.
The police pointed out that many Thais, driven by benefits or negligence, become accomplices to these criminal groups, providing cover for them. These illegal companies often serve as "shells" for criminal activities, used to hide money flows and launder money.
Main forms of criminal activities include the following two types:
Proxy company registration: Masquerading as legitimate operations
Foreigners employ Thais as agents to register companies that should only be operated by Thais. During the operation, it was discovered that these companies even owned luxury houses and agricultural land worth 254 million Thai Baht. Additionally, 242 company seals were seized in accounting firms and proxy companies, showing a criminal chain providing full registration services for foreigners. Some companies operate without licenses for imported goods, foreign exchange, and illegal supermarkets and warehouses.
Shell accounts: Facilitating money laundering activities
Another criminal pattern is the registration of "shell accounts" by legal entities, used to receive and transfer illegal funds. These accounts can be operated online without identity verification, breaking through the transfer limits of traditional personal accounts.
The police found that many accounting and law firms assisted foreigners in registering companies under Thai names, then opening bank accounts, but these companies did not engage in substantial operations
To address these crimes, the Ministry of Commerce and the police signed a memorandum of understanding (MOU), specifying enhanced scrutiny procedures for high-risk companies. The head of the Ministry of Commerce, Napintan, urged Thai agents involved in these crimes to surrender to the police as soon as possible to seek opportunities to assist the investigation as witnesses.
Meanwhile, information on related cases has also been submitted to accounting and lawyer professional associations to revise professional standards and prevent legal loopholes from being exploited by criminals.
The police emphasized that such criminal activities not only disrupt economic order but also threaten social security and stability. Actions like proxy company registrations, illegal possession of real estate, and money laundering facilitate criminal groups' activities in Thailand and also trap some Thais in economic scams, paying a heavy price.
The government stated that it would strengthen inter-departmental collaboration and optimize laws and regulations in this operation to effectively curb the breeding of the grey economy. It also calls for active participation from all sectors of society to create a healthy, orderly economic and social environment, ensuring Thailand's long-term stability and development.
