Following the case where foreign media published documents tracing the connections of a global digital money laundering operation, which identified a Memorandum of Understanding (MOU) illegally signed in 2024 between the Ministry of Digital Economy and Society (MDES) and Prime Opportunity Fund VCC, which has recently been officially canceled on 20 Nov 2025 GMT+7.
At a press conference on the evening of 24 Nov 2025 GMT+7, the Ministry of Digital Economy and Society, together with the Personal Data Protection Committee, confirmed measures to suspend iris data collection and ordered service providers and related parties to delete or destroy personal data of 1.2 million individuals under administrative orders.
They confirmed that the expert committee found that the Worldcoin iris scanning service did not fully disclose its purpose nor obtain complete consent from those scanned; consent was requested only for human verification, but the system in practice can identify individuals, violating the PDPA.This breaches the Personal Data Protection Act B.E. 2562 (2019).Currently, penalties against the company for these violations are under consideration.
Furthermore, it was revealed that the WorldID project activities in Thailand were conducted without authorization. Following inquiries to the Electronic Transactions Development Agency (ETDA) and the Personal Data Protection Committee (PDPC), which had received a permission request letter in January 2025 GMT+7 but did not grant approval for the project.
Chaiyanon Chidchob, Minister of Digital Economy and Society, recalled the origin of the MOU, directly resulting from cooperation between the Ministry of Digital Economy and Society and Prime Opportunity Fund VCC, registered in Singapore, stating the MOU aimed to establish a pilot project to develop and promote a digital business center for Thailand, named the Thailand International Digital Business and Finance Center (TIDC).
Chaiyanon said, on 25 March 2024 GMT+7, was the first day the document containing this MOU was found, sent from the MDES ministerial secretary to the Ministry’s Department of Foreign Affairs. Chaiyanon confirmed this document is the same as seen online, where a news agency cited foreign media revealing documents tracing global digital money laundering.
The document content was identical except the signatory on the Prime Opportunity Fund VCC side was listed as the Chief Officer of Capital Asia Investments Pte. Ltd. (CAI) from Singapore rather than Prime Opportunity Fund VCC.
Subsequently, on 26 March 2024 GMT+7, the document with the attached MOU was sent to three agencies for additional opinions: the Ministry of Foreign Affairs, the Office of the Council of State, and the Office of the Attorney General. Replies from the Ministry of Foreign Affairs and the Council of State stated the MOU must comply with Thai laws, so it was not considered an international treaty and did not require Cabinet approval.
Continuing on27 March 2024 GMT+7,the Office of the Attorney General responded, advising compliance with Cabinet resolutions dated 26 August 2004 and 9 February 2024, guidelines for international contracts. They expressed concern over intellectual property (IP) rights in the MOU, which allocated 100% ownership to developers without Thai involvement. They proposed amending the MOU to grant Thailand related IP benefits. Within three days, the MOU was fully signed by the MDES Permanent Secretary and acknowledged by the Minister at that time.
Chaiyanon continued, explaining the MOU's purpose to establish the Thailand International Digital Business and Finance Center (TIDC), aimed at creating a pilot zone under special regulations supervised by MDES, known as the Digital Economy Regulatory Sandbox (DERS). Initial reviews found no discussion or legal framework defining regulations for this special business within DERS.
Then, on 5 April 2024 GMT+7, a working group was formed to drive the MOU Sandbox project for advancing Thailand’s digital economy. Later,on 13 May 2024 GMT+7,TIDC sent a letter to the MDES Office of the Permanent Secretary requesting expansion of the MOU scope to include additional financial services such as Forex Futures, CFDs, OTC Derivatives, NDFs, Spot FX, and Derivatives under the pilot project. The response clarified the original MOU was already broad and did not limit sectors, advising coordination with relevant regulators to comply with Thai law and proceed.
Subsequently,on 28 October 2024 GMT+7,PrimeStreet Consulting (Thailand) Co., Ltd., part of Prime Street Group and TIDC’s consultant, contacted MDES requesting publicity and use of the Ministry’s logo on their website, confirming integration of cooperation between MDES, National Telecom Public Company Limited (NT), and TIDC, officially using the logo on 30 October 2024 GMT+7. Regarding the connection to Worldcoin operations,
the first record appeared on 13 January 2025 GMT+7, when TIDC Worldverse Ltd., a subsidiary under the TIDC Group or TIDC Holding Ltd., submitted a request to ETDA to conduct WorldID activities in Thailand, which was denied on 23 January 2025 GMT+7.On29 January 2025 GMT+7,there were continued attempts to obtain a permit from the Personal Data Protection Committee (PDPC) for iris data collection, but on 14 February 2025 GMT+7, permission was also denied.
Regarding the link between Tools For Humanity (TFH), the WorldID developer, and TIDC Worldverse Ltd., Chaiyanon stated "TIDC Worldverse Ltd. is under TIDC Group, a holding company established through cooperation between Prime Opportunity Fund VCC and MDES directly."
"WorldID service providers or related companies are global firms contracted with Tools For Humanity, which has suspended services in multiple countries. Tools For Humanity also has contracts with TIDC." Chaiyanon added, "However, you need to connect the dots yourself. Speaking as the MDES Minister, I believe you can connect the dots and analyze the situation."
He further stated,on 16 June 2025 GMT+7,TIDC sent a letter to a former Deputy Prime Minister and former MDES Minister inviting discussions on cooperation regarding TIDC, mentioning intentions to pursue Worldchain, Worldcoin, and WorldID projects, reflecting ongoing activities despite ETDA and PDPC rejections, and continued Worldcoin movements in Thailand.
Chaiyanon emphasized that although these issues arose before his tenure, he was promptly informed and took urgent action, officially canceling the MOU. He is compiling documents and details to submit to the Section 13 working group, and forwarding information to the Department of Special Investigation (DSI), Anti-Money Laundering Office (AMLO), and coordinating with Immigration, Interior Ministry, Labor Ministry, and Royal Thai Police on IT personnel data involving 500 individuals cited in reports, with no additional damages found so far.
"Regarding other individuals sanctioned by the U.S. for global digital money laundering, Chaiyanon said it is possible they are involved, based on the shareholder structure of TIDC Group, where Thai shareholders hold 51%, potentially the same persons involved in founding BIC and linked to CAI."
Finally, Chaiyanon confirmed that MDES was indeed involved in the MOU to promote companies implicated in wrongdoing, including concerning positions linked to BIC and CAI. Although permanent officials denied authorization for these processes—such as ETDA and PDPC—the Worldcoin providers in Thailand continued operations, with correspondence between the minister and the company confirming the activities.
"When asked about damages, I believe this MOU may be one cause. It might be a personal judgment, but it essentially endorsed the holding companies engaging in iris scanning that we see today. In terms of impact, the damage is enormous."
Currently, investigations continue to collect more evidence. Documentation explaining details has been sent to all relevant ministries to alert them and request cooperation from any ministry involved with organizations under this MOU to report back promptly to MDES for follow-up and legal action, Chaiyanon said.
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