Thorough Screening of Business Registrations Aims to Combat Scammers

In a decisive move against financial crimes, authorities are implementing measures to delay the registration of new companies linked to suspected money laundering activities. This initiative aims to disrupt scam operations that establish mule accounts using the names of these new businesses.

Deputy government spokesperson Karom Polaklang announced that the new regulations took effect on Wednesday. The strategy is designed to hinder scam activities right from their inception by preventing fraudsters from setting up fake companies to facilitate illicit transactions.

Auramon Supthaweethum, director-general of the Department of Business Development, confirmed that businesses involving individuals suspected of money laundering would face registration delays. The department will use a list provided by the Anti-Money Laundering Office to identify these individuals.

Suspicious applications for business registration will be thoroughly reviewed, and individuals with potential links to financial crimes will be summoned to verify their credibility. Upon successful verification, business registrations will be approved, ensuring a tighter grip on illicit financial operations.