Decree vowed to expose grey funds

Finance minister told to go 'all out'

- WICHIT CHANTANUSORNSIRI

The government is preparing an emergency decree to regulate "grey money", enabling the identification of beneficiaries of financial transactions.

Speaking at the Standard Economic Forum 2025, Finance Minister Ekniti Nitithanprapas said the decree is being structured by the Digital Economy and Society Ministry.

"The fight against grey capital is a matter of great concern to the prime minister. On the night of Nov 4, he called me in for a meeting that lasted until 11.30pm, assuring me the government will pursue the crackdown on grey money with full force and without favour," said Mr Ekniti.

"He told me not to worry and to go all out, which amounts to an explicit mandate."

He said the baht's stability makes it attractive to many, including scammer groups. As financial innovations evolve rapidly, criminals can use cryptocurrencies to launder grey money, so Thailand must keep up with these developments, said Mr Ekniti.