Thailand’s Government Intensifies Efforts Against Crypto Fraud

Thai authorities, led by Minister Prasert Jantararuangthong, convened to address the rising concerns regarding online fraud, particularly in peer-to-peer cryptocurrency transactions.

Representatives from key departments, including the Thai SEC, Bank of Thailand, Royal Thai Police, and Defense Ministry, actively participated in the discussions, emphasizing the urgency to regulate P2P crypto purchases to deter scammers.

The establishment of the Anti-Online Scam Operation Center (AOC) in November 2023 underscores the government’s proactive stance in combating online scams. Binance collaborated with Thailand’s Royal Police to apprehend perpetrators behind major cryptocurrency scams, demonstrating a significant joint effort in tackling fraudulent activities.

Prime Minister Srettha Thavisin’s directive to intensify efforts against online fraud, coupled with a 30-day deadline for tangible results, reflects the government’s commitment to safeguarding investors.

Collaborative efforts among stakeholders, including prompt reporting to the AOC, implementation of measures by the central bank and Thai Bankers’ Association, and crackdown on illegal telecom signal towers and call center gangs involved in crypto scams, are pivotal in effectively combating crypto-related fraud in Thailand.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.