Scam networks drain Thailand’s economy by 1 trillion baht, expert urges ‘clean business hub’ vision

Thailand’s economy is losing an estimated 1 trillion baht a year to cross-border scam networks, according to Associate Professor Dr Aat Pisanwanich, an expert in international and ASEAN economics.

Citing a study by the United Nations Office on Drugs and Crime (UNODC), he said Thailand has significant connections to scam operations linked with casinos and fraud syndicates based in Cambodia.

In Cambodia alone, scam operations are worth an estimated 1 trillion baht annually, or 60% of its GDP. Thailand’s own transactions related to this grey-market network are thought to exceed 1 trillion baht per year, around 10% of its GDP — money that generates no real economic value and drags down national growth potential.

“It’s like a car running at only 90% of its full capacity,” Aat explained. “Scam operations lower Thailand’s real GDP by roughly 10%. They also erode international confidence in our economy and trigger stricter financial scrutiny from trading partners such as Singapore. If left unchecked, these networks will harm Thailand’s image and deter long-term foreign investment.”

Aat emphasised that the problem is too large for Thailand to tackle alone. He called for collaboration with major powers including the United States, the United Kingdom, and South Korea, which have the capability to seize criminal assets and dismantle scam-industry zones.

He said Thailand must seize this opportunity to disassociate itself from scam groups and make clear to the global community that the country rejects such activities entirely.

However, he cautioned that adopting a “Korean-style model” of aggressive enforcement would be difficult due to entrenched conflicts of interest among certain politicians and business groups involved in grey-market operations.

To restore its reputation, Aat urged the Thai government to position the country as a global centre for transparent, ethical business — a “clean business hub.”

He proposed that Thailand host international conferences and seminars in Bangkok, inviting major economies such as China, the US, Japan, South Korea, and the UK to develop a joint task force promoting anti-fraud cooperation and economic transparency.

If successful, he said, the initiative would not only rebuild international confidence in Thailand’s economy but also enhance the political credibility of the government and relevant ministers.

“If we allow this problem to continue without firm action,” he warned, “Thailand’s image will deteriorate, and our credibility will suffer compared with other ASEAN countries that are free from such issues. It’s one of the reasons foreign investment in Thailand has significantly declined.”

Aat concluded that scam operations have become a chronic threat to Thailand’s economic potential, demanding urgent government intervention and international collaboration. By taking decisive action and declaring a commitment to transparency, Thailand could turn this crisis into an opportunity to restore its global image and achieve sustainable economic confidence.