Ekniti moves to close ‘grey money’ loopholes
Ekniti Nitithanprapas moves to close grey money loopholes with an emergency decree linking Thailand’s financial data to foreign networks via a new central data bureau
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas announced that Thailand is facing heightened financial risks due to loopholes that criminal networks have exploited, taking advantage of the country’s strong and stable financial system and resilient currency.
He explained that Thailand’s geographical proximity to neighbouring countries with less developed financial systems has made cross-border financial leakage a growing concern. Modern financial innovations, such as cryptocurrencies, have also complicated the task of tracking money flows.
Following a meeting of the Financial Linkage Committee, which he chaired, Ekniti revealed that a Data Bureau will be established by November 2025 to centralise data from all relevant agencies. The bureau will support financial investigations, assist in short-term suppression operations, and align Thailand’s regulatory framework with international standards.
Ekniti said the government must enact new legislation. Given the limited four-month timeframe of the current administration, an Emergency Decree be introduced to enable identity verification and cross-border data exchange. This will help prevent money laundering through crypto channels, such as the purchase and export of gold or luxury cars.
The Financial Linkage Committee’s main objective is to address fragmented law enforcement among agencies such as the Police, Department of Special Investigation (DSI), and Anti-Money Laundering Office (AMLO), whose operations and legal frameworks have not been fully integrated. For example, AMLO’s jurisdiction may not extend to cryptocurrency activities, which are often regulated by other agencies or based abroad.
To tackle grey money, money laundering, and online fraud more effectively, Prime Minister Anutin Charnvirakul has prioritised the issue by leading the National Committee for the Prevention and Suppression of Technology-Related Crimes, which comprises four subcommittees:
- Suppression Committee
- Technology Committee
- Financial Linkage Committee (focused on closing loopholes)
- Public Relations Committee
“The Prime Minister has granted full authority to all three main working groups and has assured that no one will be shielded from prosecution in the crackdown on financial crimes,” Ekniti emphasised.
