Bangkok– Officers from Thailand’s Central Investigation Bureau (CIB) have arrested a 28-year-old Chinese national and his 30-year-old Thai girlfriend for allegedly operating an unlicensed foreign currency exchange and international money transfer business, with transactions exceeding 26 million baht in just six months.
Acting on orders from senior CIB commanders, the Economic Crime Suppression Division conducted a raid on a three-storey townhouse in the Bang Khun Thian area of Chom Thong district, Bangkok. The suspects, identified as Mr. Zheng (28, Chinese) and Ms. Kittiyaporn (30, Thai), were taken into custody on charges of jointly conducting foreign exchange and international remittance activities without permission from the Ministry of Finance.
The investigation began after police discovered a Facebook page openly advertising services to exchange Thai baht for Chinese yuan and facilitate online transfers. Financial tracing revealed that more than 26 million baht had flowed through the operation within six months. Authorities also found that nine bank accounts linked to the scheme had been connected to technology-related crime cases, involving transfers totaling over 1.1 million baht.
During the raid, officers seized two mobile phones and four bank passbooks as evidence. According to investigators, Mr. Zheng provided the capital as the main investor, while Ms. Kittiyaporn served as the page administrator. She handled customer inquiries, managed overall finances, and opened accounts to receive client funds. The pair reportedly profited from daily differences in exchange rates.
Both suspects have reportedly confessed to all charges. They admitted to running the unlicensed online yuan exchange service to earn profits from currency rate fluctuations and acknowledged that they had not obtained the required license from the Ministry of Finance.
Thai authorities have intensified crackdowns on illegal money exchange services, which are often linked to cybercrime, money laundering, and cross-border fraud. The CIB described the arrests as part of its ongoing efforts to protect the public and maintain financial integrity.
Photo credit: CIB
For the original version of this article, please visit The Pattaya News.
