Thailand launches “Connect the Dots” task force to track online gambling and illicit money flows

The new inter-agency unit is designed to trace grey money and strengthen the country’s anti-money-laundering framework.

Thailand.- The government has created a new task force to trace funds linked to online gambling, scams, and other illicit activities. Prime minister Anutin Charnvirakul said the initiative, dubbed “Connect the Dots” will integrate data from banks, regulators and enforcement agencies to identify suspicious transactions and uncover the ultimate beneficiaries of hidden financial networks in an “all-out war” on illegal money flows

Led by Finance Minister Ekniti Nitithanprapas in coordination with the Bank of Thailand, the new data bureau is expected to be operational by December. Ekniti said the aim is to “trace questionable funds to their ultimate recipients and prevent illicit money from entering the formal economy.”

Much so-called “grey money” flows through cryptocurrency exchanges, informal remittance channels and gold or currency markets before being laundered into high-value assets. The Bank of Thailand has ordered commercial banks to tighten transaction monitoring and due diligence procedures, aligning with global standards set by the Financial Action Task Force (FATF).

Authorities are also investigating whether underground gambling and scam-related capital are influencing the Thai baht’s strength, which has remained resilient despite weak economic fundamentals.

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The new inter-agency unit is designed to trace grey money and strengthen the country’s anti-money-laundering framework. Thailand.- The government has created a new task force to trace funds linked to…