The government is linking applicants for business registrations with data on individuals identified as high-risk for money laundering, aiming to mitigate economic crime. Starting yesterday, applications with names that are on the high-risk list will be deferred, requiring valid supporting documents.
Deputy government spokesman Karom Phonphonklang said that fraud involving scammers exploiting legal entity registrations to deceive the public — taking advantage of the credibility and operational flexibility of businesses — is a form of economic crime the government is urgently addressing.
Such scammers often use legal entity business registration documents to open bank accounts, allowing them to receive money while evading financial scrutiny by banks.
This type of fraud has caused significant harm to Thailand’s economic system and jeopardised the safety of individuals’ assets. It is a pressing issue that the government, in collaboration with various agencies, is working to prevent and suppress, Mr Karom said.
The Department of Business Development (DBD) recently integrated data on high-risk individuals for money laundering (HR-03) with the Anti-Money Laundering Office (Amlo).
Mr Karom explained that if a manager or board member listed in a legal entity registration application matches a name on the HR-03 list, the registration will be deferred.
The individual must then provide valid supporting documents. If these are not provided, the application will be denied. This measure took effect yesterday.
“This directive is an additional measure to address fraud at its root, preventing scammers from exploiting the legal entity registration process,” he said.
“The integration of data sharing and field inspections with agencies like the Central Investigation Bureau (CIB) will help curb these activities, protecting Thailand’s economy and its citizens.”
Auramon Supthaweethum, director-general of the DBD, said the department recently linked the HR-03 data from Amlo through the Anti-Online Scam Operation Centre.
The HR-03 list includes individuals identified as high-risk for money laundering and requiring close monitoring.
Additionally, the department has issued an order specifying criteria for the registration of partnerships and limited companies involving individuals on Amlo’s list.
This order enables registrars to verify legal entity registration applications submitted either in person or online. Registrars are required to check whether the names on an application match those on Amlo’s HR-03 list.
If a name on the HR-03 list is found in an application, the individual must verify their identity by providing valid documents, such as an ID card, government officer card, state enterprise employee card, alien certificate or passport.
If the applicant fails to appear or provide the documents, the registrar reserves the right to deny the request.
