Thai authorities seized assets valued at about US$300 million during an investigation into individuals suspected of involvement in large-scale online fraud. Officials said the action is part of a wider inquiry connected to networks operating across Southeast Asia. The assets include real estate, vehicles, cash and other valuables. Authorities issued warrants for 42 people. They reported that 29 individuals were detained.
Investigators said the network is suspected of using scam compounds that rely on forced labour. They said workers at these sites are coerced into conducting online fraud schemes that target victims in many countries. These schemes typically involve grooming victims through social platforms or messaging services before persuading them to transfer funds to fraudulent investment platforms. The method, often described by investigators as a long-form financial fraud, has been linked to significant losses internationally.
Authorities said the network is also suspected of moving illicit revenue through shell companies and cryptocurrency channels. They said complex financial structures allow operators to direct proceeds across several jurisdictions, which complicates investigative work. International partners have previously taken action against similar networks. In a recent case, authorities in the United States seized a large quantity of cryptocurrency believed to be linked to related activity.
Investigators described the seizures in Thailand as an attempt to limit the operational capacity of the suspected network. They said restricting access to property and financial holdings interrupts the flow of funds used to support scam compounds. Officials said the investigation remains active and further detentions are possible. They said financial records and digital evidence will continue to be reviewed.
Regional analysts said cross-border fraud operations combining forced labour, financial crime and online deception present a significant challenge for law enforcement. They noted that victims and operators are often located in different countries, which requires coordination between national authorities. They also noted that the involvement of cryptocurrency and complex financial arrangements makes tracing proceeds more difficult.
Authorities in Thailand said they are working with international partners to analyze the material collected during the operation. They said any evidence of offences committed in other jurisdictions will be shared with relevant agencies. Officials said the objective is to identify key organizers and reduce the ability of the network to continue operations.