Bangkok: 'Landmarked Horse Accounts' have plummeted to just one after stricter measures were implemented at the beginning of the year. The Department of Business Development has revealed the results of enforcing four orders and two announcements since the beginning of 2026 to crack down on 'corporate money laundering accounts.' The number of companies classified as high-risk has decreased significantly, from 478 companies in the first nine months of 2025 to just one company in less than a month. This reinforces the department's commitment to effective regulation and its commitment to providing convenient, transparent, and fair services for legitimate businesses.
According to Thai News Agency, Mr. Poonpong Naiyanapakorn, Director-General of the Department of Business Development, revealed that a review of past data showed that between January 1 and September 30, 2025, a total of 478 new companies were registered that were suspected of being used as fraudulent accounts. However, after the Ministry of Commerce proactively implemented measures by issuing six orders and announcements at the end of the year, which came into effect on January 1, 2026, the number of at-risk companies decreased rapidly, leaving only one as of January 24, 2026. This result reflects the effectiveness of the government's measures and shows that the Department of Business Development is on the right track in disrupting the mechanisms used by fraudsters to conceal illegal activities.
Meanwhile, the department has also collaborated with partner agencies such as the Royal Thai Police, the Anti-Cyber Scam Center, the Thai Bankers Association, and various financial institutions to exchange information on online fraud trends and discuss more proactive approaches to combating the problem, particularly in the following areas of investigation:
A "defunct" company that was used for fraudulent purposes.
Establishing multiple companies at the same address without conducting any actual business operations.
Using a dummy account to open a legal entity and conduct transactions on behalf of another person.
It was also emphasized that stricter regulation must go hand-in-hand with facilitating businesses that operate honestly. The Department of Business Development is continuously accelerating the development of service systems to be convenient, transparent, and reduce the burden on the business sector.
Implementing the e-Foreign Business system for submitting and reviewing license applications reduces the approval time to no more than one month.
Creating a clear, easy-to-understand, and accessible guide to the permit application process.
A proposal to reduce the number of business categories requiring permits under the Foreign Business Act by 10 categories in order to support the private sector in starting businesses more easily.
'Thailand must be a place where honest investors can grow steadily, while at the same time preventing fraudsters from using legitimate business structures as a front to deceive the public or the financial sector,' Mr. Poonpong said.