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AMLO freezes assets of iCon Group and four executives for 90 days

AMLO freezes assets of iCon Group and four executives for 90 days

13 Sept 14:52 Key points summarised by AI
  • The Anti-Money Laundering Office (AMLO) froze approximately 125 million baht in assets belonging to the iCon Group and its CEO and three top executives for 90 days.
  • This action was initiated after the Consumer Protection Division reported suspicions that the online direct marketing company and its executives were engaged in defrauding the public.
  • The sequestered assets include 11 bank accounts, shares, and digital assets, with AMLO warning that assisting in their concealment could lead to severe money laundering charges.
  • In response, the cabinet instructed the Royal Thai Police and the Office of the Consumer Protection Board to tighten controls on online retail businesses and educate the public to prevent similar scams.
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