Thailand Plans Legal Amendments to Tackle Pyramid Fund Schemes

Last Updated: Nov 8, 2024

Thailand Plans Legal Amendments to Tackle Pyramid Fund Schemes image

The Thai government is planning major revisions to its laws on pyramid fund schemes to better address the evolving tactics of fraudsters and protect the public. Deputy Finance Minister Julapun Amornvivat announced that the proposed amendments would extend legal accountability to low-level heads within these schemes, not just the top-tier organizers. 

Currently, only high-ranking leaders can be prosecuted, leaving lower-level participants largely unaccountable. Julapun added that oversight responsibilities for these cases would be transferred from the Finance Ministry to the Justice Ministry, which is better equipped to respond swiftly to potential frauds.

Source: Nation Thailand

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