Thai AML Agency Seizes $50.3M in Assets Tied to Online Gambling, Drugs, and Fraud

The Thai Anti-Money Laundering agency has seized over 1.6 billion baht ($50.3 million) worth of assets, it says, that are linked to online gambling networks, drug trafficking, and fraud rings.

The Thai news agency Infoquest reported that some of the seized funds are also linked to smuggling operations and illegal e-cigarette sales.

Wittaya Nititham, the Assistant Secretary-General of the Thai Anti-Money Laundering Office (AMLO), said that the body’s transactions committee had “resolved to take action” in 103 criminal cases.

Thai AML Body: Online Gambling Assets Seized

The AMLO said it had seized 2,720 “items.” These include cash, bank deposits, motor vehicles, cell phones, real estate holdings, and other valuable items.

In several instances, the Thai AML agency has asked public prosecutors to ask courts to transfer the confiscated assets to the Treasury. Some 22 of the highest-value cases involve assets worth approximately 207 million baht ($6.5 million) apiece.

The majority of these assets were confiscated in illegal online gambling and fraud-related cases. The agency has also seized 248 other “items” related to less valuable online gambling-related crimes. These items have a combined value of over 326 million baht ($10.2 million), the agency added.

In at least 11 cases, the agency wants courts to sell assets to help compensate fraud victims.

Gold Smuggling: ‘Gambling Den’ Links?

On September 15, Thailand’s FM 91 reported that Sonthiya Sawatdee, a prominent political activist and lawyer, asked the agency to investigate “Cambodian scammers and gambling dens.” He said that den operators are “exchanging Cambodian riel for Thai baht.”

Sonthiya urged AMLO to investigate the sale of some 70 billion baht ($2.2 billion) worth of gold to Cambodia over the past seven months. The lawyer said Bangkok needs to “determine whether scammers and gambling dens based in Cambodia are laundering money in Thailand.”

Cambodia and Thailand remain locked in a border crisis that stems from various territorial disputes. Observers claim that the border areas between the countries have become a hotbed of illegal casino-related crime.

The new Thai Prime Minister, Anutin Charnvirakul, recently said that he “opposes gambling as a means of stimulating the economy.”

Anutin said that his government will review a decision from the previous administration to reclassify poker tournaments as sporting events.

The administration of former Prime Minister Paetongtarn Shinawatra hoped to put Thailand on the international poker tournament map. Paetongtarn also wanted to allow overseas developers to build integrated casino-resorts in Bangkok and other major cities.