Bangkok (VNA) – The Thai government, in coordination with the Securities and Exchange Commission (SEC), is intensifying efforts to combat online investment scams, recovering more than 1.1 billion THB (34 million USD) and freezing 368 fraudulent accounts during the first five months of 2026.
Authorities have also expanded their crackdown on so-called "mule accounts" bank accounts rented, borrowed, or purchased to facilitate illegal transactions as well as cryptocurrency accounts linked to criminal activities, bringing the total number of suspended accounts to more than 58,000.
Government spokesperson Ratchada Thanadirek said the results stem from stronger inter-agency cooperation in law enforcement, online fraud prevention, and efforts to disrupt the financial networks of criminal syndicates.
The SEC reported that between January and May it handled eight criminal cases involving stock price manipulation, fraud, false disclosures, and illegal operations in the capital market, with 43 individuals accused of violations.
Civil penalties enabled authorities to recover more than 1.1 billion THB, including 662 million THB in fines and 519 million THB in disgorged illicit gains. The recovered funds have been transferred to the state treasury.
As part of its campaign against online investment fraud, Thai authorities froze 368 fraudulent accounts and trading channels, with enforcement actions completed within 7 to 48 hours after receiving reports, helping limit financial losses for victims.
The government has also intensified measures to curb money laundering through digital assets. To date, the number of suspended mule accounts has reached 58,006, an increase of more than 10,000 compared with the end of 2025.
Thai authorities said the results demonstrate the effectiveness of proactive measures against financial crime, including tackling capital market fraud, recovering assets for victims, freezing scam-linked accounts, and dismantling money-laundering networks.
Alongside enforcement efforts, the House of Representatives has approved in principle amendments to the Securities and Exchange Act aimed at establishing a legal framework for electronic securities trading, strengthening market oversight, and enhancing investor protection.
The government expects the proposed amendments to reinforce confidence in the country's capital market and improve the transparency of Thailand's financial system in the years ahead./.
