Financial Crime World

FINANCIAL CRIME REPORTING PROCEDURES IN THAILAND

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Introduction

Thief and financial scams have been a global problem for thousands of years and remain one of the most common crimes encountered in businesses and organizations in Thailand. Despite close friendships, even these are not immune to such problems. The onset of the COVID-19 pandemic has seen an alarming increase in fraud cases, particularly involving glove scams and Personal Protective Equipment (PPE). These incidents are akin to breaches of agreement or embezzlement offenses.

THE OFFENSE OF FRAUD

The offense of Cheating and Fraud in Thailand is defined under Section 341 of the Thai Criminal Code:

  • Any individual who dishonestly misleads another by asserting false statements or concealing facts that ought to be disclosed, and, through such deceit, acquires property from the defrauded person or a third party, or induces the defrauded person or a third party to create, revoke, or destroy a legal document, is guilty of committing the offense of cheating and fraud.
  • The punishment for this offense shall not exceed three years of imprisonment or a fine of no more than six thousand Baht, or both.

ILLUSTRATING FRAUD

In practice, even when arising from a commercial agreement, actions may constitute fraud if the perpetrator intentionally deceives another party from the outset. For example, if Mr. A agrees to jointly invest in a business with Mr. B by having Mr. B transfer funds to his private account, with no actual intention of returning the investment and profits to Mr. B, Mr. A’s actions are considered fraudulent.

PUBLIC FRAUD

If fraudulent acts outlined under Section 341 are perpetrated against the public, they may fall under the purview of Section 343 of the Thai Criminal Code:

  • If the offense under Section 341 is committed by the assertion of a falsehood to the public or by the concealment of the facts which should be revealed to the public, the offender shall be punished with imprisonment not exceeding five years or fined not exceeding ten thousand Baht, or both.
  • Consequently, fraud committed against the public is classified as a public offense, highlighting its broader impact on society beyond individual victims.

STATUTE OF LIMITATIONS FOR CRIMINAL FRAUD

The statute of limitations for fraud cases in Thailand varies depending on the specifics of each case. Prompt legal action is always recommended. If you suspect you’ve been a victim of fraud, it’s essential to report it within three months after becoming aware of the incident and the identity of the offender.

REPORTING FRAUD CASES IN THAILAND

To report a fraud case in Thailand, follow these steps:

  1. Collect essential documents related to the case.
  2. Identify reliable witnesses who can testify on your behalf.
  3. File a complaint with the inquiry office at the relevant police station.
  4. Seek legal counsel to ensure you receive fair treatment throughout the process.

Our expertise in fraud offenses provides us with unique insights into each case we manage. With the necessary information, we can assure a positive outcome for your case. If you are currently unsure or suspect you might be subjected to fraud, we also offer Due Diligence services for business entities in Thailand and advice on private transactions between individuals.

Contact Us

For more information about financial crime reporting procedures in Thailand, please contact us at [Your Contact Information]. Our team of experts is ready to assist you with your case.