Police in Bangkok have arrested a Thai national and several of his alleged accomplices on suspicion of operating an unauthorized currency exchange service for buyers of Chinese goods. The arrests took place on Saturday at a three-storey house in the Bang Khen district, Bangkok Post reports.
Central bank complaint
According to Natasak Chaovanasai, commissioner of Thailand’s Central Investigation Bureau, the operation was carried out following a complaint from the Bank of Thailand. The central bank accused the suspect of providing currency exchange services without the appropriate authorization.
Police said the service was used by people purchasing goods from China through the payment platforms 1688, Taobao, Tmall and others. Police claim that other currencies were exchanged for yuan needed to pay for purchases through the websites fupay1688.com and taobao.co.th.
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Seized equipment and accounts
During the operation, law enforcement officers seized four computers, five mobile phones and documents. Police claim that five bank accounts were used to operate the service.
According to law enforcement authorities, financial transactions worth 170 million baht were processed through these accounts over the past year.
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