Thailand to Establish Task Force Targeting Online Gambling and Scam-Linked Financial Flows

Thailand’s government is preparing to launch a dedicated task force aimed at tracing suspicious financial transactions connected to online gambling, scam operations, and other illicit activities believed to be influencing the baht’s unusual strength.

Finance Minister Ekniti Nitithanprapas announced on Wednesday that the new “data bureau” will integrate and synchronize information across multiple government departments and financial institutions to improve oversight and identify irregular money movements. “We will not fix this on a case-by-case basis, but will update the standards for detecting suspicious flows,” Ekniti told reporters. He added that the new system is expected to be operational by December.

Prime Minister Anutin Charnvirakul has appointed Ekniti to lead the initiative in close coordination with the Bank of Thailand and other agencies under a “Connect the Dots” framework designed to strengthen monitoring of irregular capital movements. The task force’s mandate also includes determining whether these questionable financial flows have contributed to the baht’s resilience despite Thailand’s sluggish economic conditions.

Anutin described the government’s effort as an “all-out war” on financial crimes and pledged complete support for the operation. He said his administration has “signed a blank check” to empower law enforcement and regulatory authorities to dismantle networks involved in scams, human trafficking, and drug smuggling.

Ekniti elaborated on the mechanisms used by illicit operators to move money, explaining that so-called “gray money” often travels through cryptocurrency exchanges, informal cash channels, currency trading platforms, and gold markets. Once these funds enter Thailand, they are typically laundered through the purchase of high-value assets such as real estate, gold, diamonds, and luxury vehicles.

The government’s plan also includes modernizing its framework for monitoring suspicious transactions and aligning domestic standards with those established by the Financial Action Task Force (FATF). In a related move, the Bank of Thailand announced this week that commercial banks will be required to enhance their due diligence processes to better detect and report abnormal fund transfers, reinforcing the broader national push to tighten financial surveillance.

At the same time, Thailand is working to revitalize its tourism industry, particularly by boosting arrivals from China. Government spokesperson Siripong Angkasakulkiat stated that the administration expects to see “visible positive results within one or two months,” as the government relies on maintaining a strict stance against gambling in exchange for Beijing’s goodwill.

During the Asia-Pacific Economic Cooperation (APEC) meetings in South Korea, Prime Minister Anutin reaffirmed Thailand’s opposition to casino legalization in a discussion with Chinese President Xi Jinping. His assurance reportedly encouraged Xi to agree to internal consultations on ways to support increased Chinese tourism to Thailand. Officials anticipate that the upcoming Lunar New Year in February will bring a significant seasonal surge in visitor numbers following a period of slower arrivals earlier this year. 

By fLEXI tEAM