Mrs. Alisara Mahasantana, Assistant Governor Bank of Thailand’s Financial Markets Line (Bank of Thailand) clarified regarding the news that people are victims of being scammed to invest in foreign exchange or speculate on the exchange rate (FOREX)
claiming that it will yield high returns But no money is actually invested or made in foreign currency transactions. and looks like a chain share which in the end may not receive a refund as follows
1. According to the Foreign Exchange Control Act Citizens are required to conduct foreign currency transactions only with business operators authorized by the Minister of Finance.
and currently has never given a license to the general public To trade foreign currency for investment or speculation in the form of FOREX trading on the platform or the website (Foreign Exchange Control Act B.E. 2485 and its amendments).
2. Doing business or participating in FOREX transactions in Thailand, which is not currently allowed.
For example, money transfer services to pay for both domestic and international FOREX transactions. Offenses under the Exchange Control Act.
3. Persons who are not allowed to operate foreign currency business but has advertised or invited people to trade in foreign currencies Speculating foreign exchange or trading FOREX will be an offense under the Fraudulent Public Borrowing Act (According to the Public Fraud Borrowing Act, B.E. 2527 and its amendments).
In addition, in the case of FOREX 3D, from the information disclosed by the Department of Special Investigation The existing legal provisions can be used to file an allegation once morest the person concerned as follows:
1) Jointly commit the offense of borrowing money that is fraudulent to the people under the Royal Decree on Borrowing Fraudulent People, B.E. 2527 and its amendments.
2) jointly defraud people under the Penal Code and 3) jointly import false information into computer systems. which cause damage to the people according to the Computer Crime Act B.E. 2550
In this case, even though there were no allegations related to laws that were under the responsibility of the BOT, the BOT cooperated in providing information that was under the responsibility. According to the Department of Special Investigation and relevant agencies fully inquired.
In the past, the Bank of Thailand has issued a news warning to the public to be cautious not to be fooled by solicitations to invest in foreign exchange. Or speculate on the exchange rate continuously all along. To prevent people from falling victim to fraud
However, if there are any questions related to foreign currency transactions People can ask the Exchange Policy and Supervision Department, the BOT, call 02 356 7799, or the BOT Financial User Protection Center, call 1213, or check the list of those authorized to conduct business under the Bank’s supervision. of Thailand at BOT License Check to prevent fraud
