The Department of Business Development has joined forces with the Royal Thai Police to crack down on fraudsters advertising the buying and selling of company names for use in opening corporate straw accounts. The crackdown during the first five months of 2026 has cut the number of cases to only 19. The department also warns the public not to fall victim to offers to open companies on their behalf.
Mr. Poonpong Nainapakorn, Director-General of the Department of Business Development, stated that the department has been monitoring social media and found numerous advertisements for buying and selling ‘company names/partnerships and corporate bank accounts’ used to deceive the public and businesses. As the regulatory agency overseeing company registrations, the department has worked closely with the Royal Thai Police to strictly suppress and prosecute those involved. As a result, during the five months from January to May 2026, cases of corporate straw accounts dropped to 19, with a clear reduction in harm to the public and businesses compared to 2025.
Data from the Royal Thai Police shows that in 2025, fraudsters used company names to open bank accounts to deceive the public (corporate straw accounts) in 549 cases. Among these, there were activities involving the purchase and sale of ‘company/partnership names’ linked to technology-related crimes. They registered changes to company records using individuals' names to facilitate transactions that may be illegal, such as online scams, money laundering, or evading government scrutiny.
“The department warns the public and business operators that allowing others to use their names to register companies or accepting roles such as partner, managing partner, director, or shareholder without conducting real business is highly risky. Such conduct may result in legal liability, including criminal and civil penalties as direct accomplices. Especially if the company name is used as a corporate straw account, one might unknowingly become involved in fraud. We strongly urge caution against selling names or allowing others to use them to register companies. Always verify information carefully before conducting any business. More information is available on DBD DataWarehouse+ via the Department of Business Development's website.www.dbd.go.thor through the DBD e-Service mobile application.”
If you observe suspicious behavior or are solicited to engage in potentially fraudulent or illegal activities, you can report tips to the Department of Business Development.www.dbd.go.th, Call Center 1570, or via the Line Official Account: @DBD1570.
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