AMLO clarifies US, UK asset freezes linked to transnational scam network
AMLO clarifies US, UK asset and crypto seizures linked to ‘Chen Zhi’ scam network worth 490 billion baht, pledging strict anti–money laundering action.
- The United States has filed charges for wire fraud and money laundering, targeting assets including cryptocurrency valued at approximately 490 billion baht.
- The United Kingdom has seized real estate and other assets worth over 4 billion baht linked to the same transnational criminal organisation.
- The asset freezes by the US and UK target a network allegedly led by Chen Zhi, founder of Prince Holding Group.
- Thailand's AMLO is coordinating with international agencies and has ordered the monitoring of transactions linked to individuals sanctioned by the US.
The Anti-Money Laundering Office (AMLO) has issued a clarification following reports that the United States and the United Kingdom have frozen assets linked to an alleged transnational scam network led by Chen Zhi, also known as Vincent, founder of Prince Holding Group.
According to reports, the US Department of Justice has filed charges against Chen for wire fraud and money laundering, alongside civil forfeiture proceedings targeting assets including cryptocurrency valued at approximately 490 billion baht.
The US Office of Foreign Assets Control (OFAC) has also imposed financial sanctions on individuals and companies tied to the network.
Meanwhile, the UK government has seized real estate and other assets worth over 4 billion baht linked to the same criminal organisation.
AMLO stated that it is coordinating with both domestic and international agencies to gather evidence and take action under Thailand’s Anti-Money Laundering Act. It will also notify relevant reporting entities to monitor and flag suspicious transactions associated with the names listed by the US Treasury.
If any money-laundering offences are detected, AMLO affirmed it would enforce the law rigorously.
The agency reiterated its commitment to curbing money laundering and intensifying enforcement measures against transnational crime networks in line with government policy to safeguard the nation’s interests and its people.
