October 16, 2021

Understanding regulations around financial fraud in Thailand

Thai law enforcement agencies have introduced various legislation and increased surveillance of potential financial crimes over the years. Investors around the world continue to lose millions of dollars every year to fraud, whether in real estate, cryptocurrency, agricultural products, or financial securities, causing losses that are both financial and psychological.

In Thailand, fraud can be treated as either a civil or criminal offence, depending on the nature of the fraudulent activity and whether it was communicated publicly or privately. Fraud is covered in Thailand by various pieces of legislation, including Thailand’s Penal Code and the Civil & Commercial Code. Both Codes state that a person is deemed to have committed fraud by either obtaining property from another person through deception or concealment of facts, or by preventing creditors from receiving debt repayments.[1] In addition, provisions found under Sections…

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