Transnational Crime Syndicate in Thailand

A joint committee set up by the Thai government has accused an, as yet, unnamed Malaysian company of being a “transnational crime syndicate”, causing the kingdom to suffer financial losses worth billions of Baht (1 billion Baht = approximately 29.3 million USD).  The company is known to be involved in various businesses including hotels and resorts, entertainment, restaurants, money exchange, and apartments.

Authorities became suspicious because the company showed loss in profit most years, didn’t pay taxes, and yet it continued to invest heavily in its expansion.  This strange activity led authorities to suspect that the Malaysian company has engaged in large-scale illegal business activities, including money laundering which prompted the investigation.

The committee began several months ago, and includes representatives from the Attorney-General’s Office, Department of Special Investigation, Narcotics Suppression Bureau, Office of Narcotics Control Board and Anti-Money Laundering Office, the Revenue Department, Department of Business Development and Thailand’s central bank, the Bank of Thailand.

This is the first time Thailand has set up a multi-agency committee in order to investigate a particular company which serves to prove the severity of the allegation.  

For the full story, view:


Leave a Comment

Your email address will not be published. Required fields are marked *