BANGKOK, Thailand – Thai police and banking officials have joined forces to combat the rising use of mule accounts, which are being exploited by criminals to defraud citizens and transfer funds to international crime networks. Pol Gen Thatchai Pitaneelaboot, Senior Inspector General and Director of the Police Cyber Taskforce, led a meeting on January 13 with representatives from the Bank of Thailand (BoT) and other law enforcement agencies to plan a nationwide crackdown on financial crimes.
Authorities disclosed that more than 500,000 mule accounts are currently active, causing substantial economic losses in Thailand. Since 2022, these accounts have led to the theft of over 100 billion baht. Criminals use mule accounts to channel funds through Thailand’s financial system, convert the money into cryptocurrency, and transfer it to call center gangs linked to foreign organized crime networks.
It was revealed that over 200,000 individuals, many of working age, have opened mule accounts. This has enabled financial crimes and contributed to a labor shortage of the same magnitude in the Thai economy. Authorities warned that mule account holders risk facing legal action while urging the banking sector to strengthen its systems to prevent further exploitation.
As part of the effort, authorities have launched Operation “Breaking the Criminal Bridge” to shut down all pathways used by call center gangs to deceive citizens. The operation focuses on dismantling the use of mule accounts and ensuring criminals can no longer exploit Thailand’s financial infrastructure.
The BoT, led by Deputy Governor Rung Mallikamas, has pledged to work with the Police Cyber Taskforce to implement measures that prevent misuse of bank accounts. (NNT)
