The Department of Business Development scanned foreign businesses in the Huai Khwang area and found 53 cases considered at risk of nominee involvement. The data was submitted to the Anti-Money Laundering Office for financial trail investigation and to relevant agencies for in-depth examination. Among these, some company shareholders and accountants are listed on the Anti-Money Laundering Office's HR03 blacklist. The department emphasizes strict law enforcement to assure the public.
Mr. Poonphong Nainapakorn, Director-General of the Department of Business Development, Ministry of Commerce, revealed, “Huai Khwang is a district with a large number of foreign residents and businesses. It is a high-risk area that the Department of Business Development continuously monitors for potential illegal business practices, especially nominee arrangements. We have conducted multiple field inspections and have shared information with the Anti-Money Laundering Office, the Royal Thai Police, and the Revenue Department for them to act within their authority.”
Director-General Poonphong added that regarding media reports about a restaurant refusing to accept payment in baht, the corporate registration shows the restaurant was established in 2024, operating as a restaurant, beverage shop, café, coffee shop, bakery, and fast-food outlet. The shareholders include one Thai and two Chinese holding 51% and 49% shares respectively. The department had previously inspected this company and summoned its directors and shareholders for explanations, but they refused to comply. This constitutes a violation of the chief accountant's order. The department is now proceeding with charges and fines under the law and has forwarded information to relevant agencies for thorough investigation and strict law enforcement.
Additionally, reviewing overall data in Huai Khwang district reveals 53 legal entities at risk under the Foreign Business Act of 1999, with registered capital ranging from 1 million to 4,999 million baht. Among these, some companies with foreign shareholders owning less than 50% have shareholders and accountants listed on the Anti-Money Laundering Office's HR03 blacklist. The department is seriously enforcing the law and has already submitted company data to the Anti-Money Laundering Office for financial transaction investigations. Remaining data have been forwarded to related agencies for in-depth scrutiny, including the task force combating illegal foreign businesses, the Royal Thai Police, the Revenue Department, and the Metropolitan Police Bureau to carry out their duties accordingly.
“For Huai Khwang district, the department has conducted continuous inspections under the task force against illegal foreign goods and businesses. We coordinate with the Immigration Bureau and the Department of Employment to inspect and crack down on illegal businesses, as well as to strictly regulate the area once again. We emphasize strict and serious enforcement of laws under our responsibility and collaboration with all sectors to solve these problems,” Director-General Poonphong concluded.
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