Ministry of Commerce Takes Firm Action, Joins Forces with 17 Agencies to Launch Nationwide Campaign Against Nominee Businesses and Mule Accounts

The Ministry of Commerce has stepped up its efforts to combat nominee businesses and mule accounts by launching a nationwide campaign titled “United Against Nominee Businesses and Mule Accounts: Strengthening Thai Accountants’ Immunity Against Illegal Business Practices.” The initiative brought together more than 1,600 accountants and representatives from 17 partner agencies to enhance awareness and strengthen preventive measures against illegal business activities that threaten Thailand’s economy and society.

The Minister of Commerce expressed appreciation for the strong cooperation from all sectors, noting that more than 1,500 participants registered to strengthen their understanding of nominee structures and mule accounts. She stressed that these illegal practices cause serious damage to the country and are not a distant issue, as their impacts affect the entire economy and society.

She emphasized that accountants play a crucial role as a key “frontline” in preventing such crimes. Their participation, she said, was not only to gain knowledge but to actively work together to stop illegal activities at their source. With proper understanding of their professional responsibilities and close cooperation, accountants can effectively prevent the misuse of nominee arrangements and mule accounts that undermine transparency and economic stability.

The Minister also highlighted that criminal networks are constantly adapting their methods, making it essential for all sectors to continuously improve their vigilance and capabilities. While this campaign marks an important starting point, sustained and long-term efforts are necessary to protect Thailand’s business system.

As part of its enforcement measures, the Ministry of Commerce, through the Department of Business Development, has introduced four ministerial orders and two official notifications to close regulatory loopholes. These measures include enhanced screening of company registrations using data from state welfare card holders and identified mule accounts, stricter identity verification, and closer scrutiny of suspicious company structures and duplicate addresses.

Thailand currently has over 80,000 accountants and more than 7,000 accounting firms nationwide. The Ministry has encouraged accounting firms to join professional quality associations and called on all accounting professionals to refrain from supporting illegal businesses, in order to protect national interests and maintain long-term confidence in Thailand’s economic system.