The Anti-Money Laundering Office of Thailand (AMLO) is investigating assets and financial networks related to businessman Chen Zhi - founder of Prince Group in Cambodia, who is suspected of being involved in transnational fraud rings.
On November 10, 2025, at Pullman King Power Hotel in Bangkok, the Thai Anti-Money Laundering Office in collaboration with the Asia-Pacific Group on Anti-Money Laundering (APG) and the United Nations Office on Drugs and Crime (UNODC) organized a seminar on anti-money laundering in 2025.
The event gathered representatives from more than 40 countries to discuss measures to deal with new types of crimes such as hybrid scams, human trafficking and illegal cash flow related to child sexual exploitation online - increasingly serious threats globally.
Kamolsit Wong Butnoi - Deputy General Secretary of the Thai Anti-Money Laundering Office - said that the agency is tracing the assets and financial transactions of Cambodia's Prince Group founder Chen Zhi, and Chen Zhi's network in Thailand.
Mr. Kamolsit Wong Butnoi said that the process of tracing assets and financial transactions of Chen Zhi is being carried out carefully, in accordance with legal procedures and cannot be made public to avoid the subjects spreading assets.
The investigation is ongoing and is making progress, the Thai official confirmed.
He noted that Thailand, as a regional economic hub, is still vulnerable to illegal cash flows. However, the government and relevant agencies are increasing data sharing and coordinating actions. He gave a recent example of the case of Cambodian businessman Ly Yong Phat, whose assets were seized in a joint campaign between the Thai Anti-Money Laundering Office and the Cyber Police Department.
Referring to the 43 foreign citizens named by the US for their involvement in online scams, Kamsitol revealed that Thai authorities are exchanging information and reviewing financial transactions. If signs of violations are detected, the Thai anti-money laundering office has the right to confiscate assets under the anti-money laundering law, even if these individuals do not directly commit crimes but are related to the network.
Regarding the information about unusual gold exports from Thailand to Cambodia, Mr. Kamolsit said that the Thai anti-money laundering office is checking all cash flow and related data, but cannot make a conclusion until the investigation is complete.
AMLO will speed up the progress to get clear results soon. People can rest assured that AMLO is doing its best and will not let criminal networks freely circulate illegal cash flow in Thai territory," he said.
Before Thailand, prosecutors in Taiwan (China), Hong Kong (China) and Singapore seized hundreds of millions of dollars in assets owned by Chen Zhi, who was accused by the US of being the head of a global fraud organization.
The US announced the accusation against Chen Zhi for online fraud and money laundering in October 14. The US and UK governments also announced joint sanctions against Chen Zhi and his colleagues as well as Prince Group.
