Thailand seizes over $300 million in assets linked to major cyberscam networks
Thailand has seized more than $300 million in assets connected to international cyberscam networks operating across Southeast Asia, Prime Minister Anutin Charnvirakul confirmed on Wednesday. The crackdown marks one of the most extensive financial seizures in Thailand’s history and forms part of a broader regional effort targeting organised online fraud.
The announcement follows major cross-border investigations involving authorities from Asia, Europe and the United States. Enforcement agencies have specifically targeted Cambodia’s Prince Holding Group and its vast business network, which has been the subject of significant financial freezes amounting to billions of dollars.
In October, U.S. prosecutors indicted Prince founder Chen Zhi on allegations of running forced labour compounds in Cambodia, where trafficked workers were coerced into carrying out digital scams. The indictment classified these networks as high-level transnational criminal operations that generated billions in illegal proceeds.
Prime Minister Anutin said on Wednesday that the individuals linked to the latest seizures were “among the big ones,” naming Chen, Cambodian senator Kok An, and two Thai nationals. He stated that all individuals connected to the operations must face legal action, emphasising Thailand’s intention to pursue accountability.
According to Thailand’s Anti-Money Laundering Office, authorities confiscated around 100 assets belonging to Chen, valued at 373 million baht, including jewellery, luxury items, land and cash. Officials also seized nearly $15 million from Senator Kok An, a close political and business ally of former Cambodian leader Hun Sen. A further $290 million was confiscated from two Thai citizens suspected of operating scam-linked ventures.
The investigations focus on cyberfraud hubs in Southeast Asia, where millions of people worldwide are targeted by scammers operating from office complexes or converted warehouses. Human trafficking has been a recurring element in these networks. While some employees join willingly, many are forced into labour, with testimonies exposing physical abuse and confinement.
The crackdown is not limited to Thailand. The United Kingdom has frozen more than $130 million in assets tied to Chen, while Taiwan, Singapore and Hong Kong have collectively seized hundreds of millions more. Meanwhile, the U.S. Justice Department described Prince Group as “one of Asia’s largest transnational criminal organisations,” announcing the seizure of around $15 billion worth of bitcoin allegedly linked to its operations.
Prince Holding Group has denied all allegations, rejecting claims of involvement in criminal activity or human rights abuses. Regional investigations, however, suggest that cyberfraud networks remain a significant challenge for law enforcement under evolving digital crime models.
