Thai scam crackdown and Bangkok Blueprint impress US Fed chief Kevin Warsh

US Federal Reserve Chair Kevin Warsh praised Thailand’s crackdown on scam networks and expressed interest in the Bangkok Blueprint for tackling cross-border financial crime, according to Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. Ekniti outlined the discussions during the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in Bangkok.

Ekniti and Bank of Thailand Governor Vitai Ratanakorn took part in talks with Warsh when the Fed chair met Prime Minister Anutin Charnvirakul.

Ekniti said Warsh welcomed Thailand’s determination to tackle illicit financial networks and scam operations.

“We discussed the crackdown on illicit financial networks at length. The Fed chair praised and thanked Thailand for tackling scammers,” Ekniti said.

“We have connected data from all agencies—connecting the dots—and turned it into a blueprint called the Bangkok Blueprint for other countries to use. The Fed chair was interested and impressed,” Ekniti added.

Bangkok Blueprint builds on cooperation between agencies

Thailand presented its “connect the dots” approach during the discussions, explaining how data sharing and coordinated operations could replace fragmented responses by individual institutions.

The approach brings together agencies including the Royal Thai Police, the Securities and Exchange Commission, the Bank of Thailand and the Finance Ministry.

Ekniti linked Thailand’s experience to the development of the Bangkok Blueprint with the IMF and World Bank Group, providing a framework that other countries can use to address financial threats that extend beyond national borders.

Scam networks and illicit financial operations frequently move money across borders and convert funds into different financial assets, making close international cooperation necessary to tackle them.

World Bank shows interest in Nok Krasip for small traders

Ekniti described the annual meetings as beneficial to Thailand and the wider international community, with several Thai initiatives attracting attention as models that other countries could study.

The World Bank placed particular emphasis on practical, accessible artificial intelligence (AI) that small businesses could use without having to navigate complex technology.

Thai representatives presented Nok Krasip, or “Whispering Bird”, at the “Small AI: More and Better Jobs” session. The AI system is designed to help market and street vendors run their businesses more efficiently.

Sales records associated with Nok Krasip can also support assessments of loan applications by financial institutions, including Krungthai Bank, Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives.

World Bank Group President Ajay Banga told Ekniti that he would use Thailand’s Nok Krasip model as a case study at the meetings, according to the account.

IMF stresses fiscal discipline and investment in skills

IMF Managing Director Kristalina Georgieva emphasised the importance of fiscal discipline and indicated that Thailand’s policy direction was on the right track, the report said.

Bangkok Biznews linked Thailand’s fiscal discipline to contained borrowing costs and financial-market confidence in the country’s economic and fiscal stability. The report cited Thai 10-year government bond yields of around 2.3–2.4%, against US government bond yields above 5%, and noted substantial increases in yields in Europe and Japan.

Thailand also used the IMF discussions to argue that investment should be assessed through the skills and capabilities it develops, rather than solely through the amount of capital it brings in.

Thailand’s stated aim is to use investment in the AI economy to strengthen people’s capabilities and support sustainable income growth, an approach the report described as consistent with the IMF’s broader direction.