Thai Authorities Crack Down on Amulet-Based Money Laundering Networks

Thailand’s Immigration Bureau warns that cross-border amulet trade is exploited for laundering illicit funds via crypto and fake auctions, prompting multi-agency enforcement.

Woofun AI reports that Thailand’s Immigration Bureau has issued a warning regarding the exploitation of the booming cross-border amulet trade by Chinese gray-market capital networks for money laundering. Illicit proceeds from online gambling, telecom fraud, and drug smuggling are being disguised as legitimate business income through amulet trading, fake auctions, temple rentals, and peer-to-peer cryptocurrency transfers.

Pol Maj Gen Choengron Rimpadee, deputy director and spokesperson of the bureau, advised legitimate businesses and believers to verify customer identities, use formal banking channels, and avoid acting as asset holders or business agents. Multiple agencies, including the Anti-Money Laundering Office, Central Investigation Department, Cyber Police, Department of Commercial Development, Tax Department, and Customs, have coordinated efforts to strengthen oversight of cryptocurrency transactions.