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Thailand authorities pledge to crack down on drug-related activities laundered through Banks & crypto

Thailand authorities pledge to crack down on drug-related activities laundered through Banks & crypto
  • Authorities in Thailand are cracking down on the drug networks rife throughout the country. 
  • Many of these networks use laundering techniques in the multi-million dollar turnovers and this can include the world of crypto.

Authorities in Thailand are cracking down on the drug networks rife throughout the country. Many of these networks use laundering techniques in the multi-million dollar turnovers and this can include the world of crypto. As reported earlier this week by AFP News, the downfall of one meth syndicate in Thailand has brought attention to how sophisticated these networks can be.

The assistant to Thailand police chief, Lieutenant General Wissanu Prasarttong-Osoth has conceded saying it’s almost impossible to guess the real amount of these drug networks and what they are making.

Their profits allegedly fuel a secondary economy of laundered drug assets that spans over luxury commodities, overseas real estate, and of course in this case, crypto.

The authorities in Thailand are set to confiscate drugs just shy of $2 billion today and following a string of successes by law-enforcement. On top of this, the country has pledged to up its game and focus more on efforts in regards to drug-related assets that have been laundered through the banking system as well as cryptocurrency accounts.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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