Police from the Economic Crime Suppression Division raided an illegal E-Money website providing overseas product ordering and comprehensive yuan currency exchange and transfer services, with transaction volumes exceeding 170 million baht in circulation.
On 1 Nov 2026 GMT+7, Pol. Lt. Gen. Natsak Chawanasai, Commissioner of the Crime Suppression Division, ordered Pol. Maj. Gen. Tatsapoom Jaruprat, Commander of the Economic Crime Suppression Division, along with Pol. Col. Krit Waratat, Superintendent of Division 5, and other officers, to raid TaoPao (Thailand) Co., Ltd., a three-story townhouse in Tha Raeng subdistrict, Bang Khen district, Bangkok. They arrested Parin (surname withheld), 38, a Thai national and company director, for "jointly operating payment services under supervision without authorization and jointly conducting foreign currency exchange and international money transfer without authorization." Authorities seized four laptops, five mobile phones, and one file of documents.
This followed information from the Bank of Thailand alerting the Economic Crime Suppression Division's Division 5 to websites named Fupay (www.fupay1688.com) and Taobao Thailand (www.taobao.co.th), which advertised payment services and acceptance of yuan and foreign currency exchange without authorization. Such businesses require licenses and are regulated by the Bank of Thailand.
Police investigations found that these two websites offered yuan exchange, yuan transfers into Alipay accounts, and top-up services for purchasing goods from China through comprehensive platforms. Users must register as members, after which the website creates user accounts with electronic wallets that allow deposits, withdrawals, and payments for online purchases from Chinese sites such as 1688, Taobao, and Tmall. This operation constitutes payment and foreign currency exchange services regulated by the Bank of Thailand. The websites operated under the name of the accused company.
Financial tracing revealed five related bank accounts with combined transaction volumes exceeding 170 million baht over one year. Two of these accounts were used for yuan exchange and payments, linked to accounts involved in cybercrime as reported by the National Police’s Anti-Online Fraud Center (ACSC), with total amounts over 270,000 baht.
Pol. Lt. Gen. Natsak warned the public to choose e-Money or electronic payment services only from legally authorized operators under Bank of Thailand supervision. Such regulation is necessary to prevent widespread impact on users and the national economy.
He added that anyone suspicious of illegal transactions should immediately contact police or relevant financial institutions. To verify legally authorized operators, information can be checked through the following channels.
Bank of Thailand website https://app.bot.or.th/BotLicenseCheck