BANGKOK, Thailand – The Ministry of Commerce, led by Minister Suphajee Suthumpun, has launched a nationwide enforcement drive to curb nominee businesses and mule account networks, intensifying efforts to shut down illegal operations that disguise foreign ownership or facilitate financial crime at the source.
As part of the effort, the Department of Business Development rolled out a nationwide campaign to crack down on nominee and mule accounts, with 17 agencies participating, including the Revenue Department, the Department of Special Investigation, the Economic Crime Suppression Division, and the Anti-Money Laundering Office. The campaign engages more than 1,600 accountants, accounting firms, and bookkeepers to strengthen awareness and detection of unlawful business practices.
The program provides practical guidance on identifying nominee structures, detecting irregularities through financial statements, and understanding legal and ethical liabilities.
The Commerce Ministry also issued four orders and two announcements, effective January 1, 2026, that tighten registration requirements. The measures include mandatory in-person verification and bank statement submissions in cases linked to mule account databases, misuse of state welfare cardholders as company principals, nominee-risk ownership structures, and repeated use of the same business address without proper authorization. Additional rules require formal registration and identity verification for those handling company filings.
The ministry urged Thailand’s accounting community—more than 80,000 registered accountants and over 7,000 firms—to strengthen cooperation and professional standards, including participation in quality assurance associations. Accountants were encouraged to avoid involvement in illegal operations and to help safeguard confidence in Thailand’s business and financial system. (NNT)
