Thailand cracks down on cross-border money laundering networks involving amulets, with illegal funds disguising their origins through means such as cryptocurrency

The Thai Immigration Bureau recently issued a warning, pointing out that while the cross-border trade of amulets is thriving, it is being exploited by gray capital networks as a money laundering channel.

From online gambling, telecom fraud to drug smuggling, some illegal proceeds are being disguised as legitimate business income through means such as amulet trading, fake auctions, temple rentals, and cryptocurrency peer-to-peer transfers.