World

Thailand busts illegal e-money firms

Thai authorities raided the companies in Nakhon Pathom, Samut Sakhon, and Bangkok after discovering they were operating without licenses. They arrested 11 executives and employees with a combined revenue of approximately 1 billion THB (nearly 30 million USD).

Police question one of the 11 suspects arrested during a raid on five illegally operating e-money firms in Bangkok and two other provinces on Friday. (Photo: bangkokpost.com)
Police question one of the 11 suspects arrested during a raid on five illegally operating e-money firms in Bangkok and two other provinces on Friday. (Photo: bangkokpost.com)

Bangkok (VNA) – Thai police have arrested 11 executives and employees from five illegally operating cryptocurrency firms with a combined revenue of approximately 1 billion THB (nearly 30 million USD).

According to Major Thatphum Jaruprat, head of the Economic Crime Division (ECD), authorities raided the companies in Nakhon Pathom, Samut Sakhon, and Bangkok after discovering they were operating without licenses.

Investigations revealed that these platforms acted as intermediaries for users purchasing foreign products. Customers were required to register, open e-wallets, and deposit funds via bank accounts linked to the companies, raising concerns over economic losses and potential money laundering.

Thailand’s central bank regulates cryptocurrency-related businesses under the 2017 Payment Systems Act to mitigate risks and protect consumers. ECD investigators confirmed legal violations, and the arrested individuals now face charges for offering unauthorised cryptocurrency services./.

VNA
#Thailand #e-money #Vietnam #Vietnamplus #Vietnam News Agency Thailand
Follow VietnamPlus

Related News

See more

Illustrative Image (Photo: Bangkokpost)

Thailand extracts bio-calcium from fish waste

Researchers at Rajamangala University of Technology, Thanyaburi (Thailand) developed a method to extract calcium from discarded parts of blackchin tilapia, including heads, bones, scales and tails - materials typically treated as waste and a source of pollution.

Philippines receives first Russian oil shipment in five years

Philippines receives first Russian oil shipment in five years

On March 24, Philippine President Ferdinand Marcos Jr. declared a national energy emergency through an executive order, allowing the government to fast-track fuel procurement, make advance payments for fuel contracts, and ensure the availability of fuel and other essential goods amid rising prices.

Philippines declares energy emergency over Middle East tension (Photo: BBC)

Philippines declares energy emergency

The Philippine Government on March 24 announced an "imminent danger of a critically low energy supply" as tensions in the Middle East threaten fuel supplies and the stability of the country’s power system.

Delegates at the event (Photo: cambodia.un.org)

Cambodia accelerates access to climate-resilient water services

Funded by the UN Joint Sustainable Development Goals (SDG) Fund, the Water Infrastructure & Smart Energy Joint Programme (WISE JP) introduces a pioneering financial model that combines commercial and low-interest capital - a revolving blended‑finance facility - dedicated to ensuring climate‑smart water systems.

Officials inspect the 10-wheel tanker found smuggling fuel to Myanmar in Mae Sot border district on Sunday. (Photo:bangkokpost.com)

Thailand seizes 20,000 litres of diesel bound for Myanmar

Authorities of Thailand's Tak province have ordered intensified patrols and stricter inspections to prevent fuel stockpiling and illegal cross-border exports. They also called on local residents to report any suspicious signs related to fuel hoarding or smuggling.

Illustrative image (Photo: Internet)

Wildfires surge to 96 hotspots in Thailand

According to the provincial forest fire and haze prevention centre, satellite data from the Suomi NPP VIIRS system recorded the hotspots at 02:13. The fires were spread across multiple districts though firefighting teams have been working around the clock to contain the blazes.

In major cities such as Hanoi and Ho Chi Minh City, demand for pet-related services is surging. (Photo: VNA)

Vietnamese pet market attractive to RoK businesses

RoK pet food companies are increasingly targeting Vietnam as a key growth market, leveraging the country’s rapidly developing pet economy and rising demand for premium pet care products in Southeast Asia.

Residents refuel at a petrol station in Stung Treng province, north-eastern Cambodia. (Photo: VNA)

Cambodia introduces energy-saving measures amid Middle East conflict

Despite these challenges, the government noted that Cambodia’s fuel and electricity supply remains stable, supporting economic activities and public service delivery, based on assessments conducted with the Ministry of Mines and Energy, Electricité du Cambodge (EDC), and fuel import companies.

Coordinating Minister for Economic Affairs Airlangga Hartarto in a press statement at the Presidential Palace Complex, Jakarta on March 19. (Photo: ANTARA)

Indonesia pushes sustainable energy transition

Diesel plants remain widely used but should gradually be replaced by renewable energy sources, particularly solar power, due to their economic and environmental advantages, said an Indonesian minister.