The Evolution of Thailand’s Anti-Money Laundering Enforcement: From Evidentiary Hurdles to Strict Nominee Confiscation 泰國反洗錢執法的演進：從高舉證門檻到嚴懲「人頭代持」資產沒收
In the past, prosecuting money laundering in Thailand required overcoming a high evidentiary threshold. However, recent sweeping legislative changes have drastically altered the landscape for foreign investors, shifting the regulatory environment from administrative warnings to severe criminal crackdowns.
過去在泰國追訴洗錢犯罪需跨越極高的舉證門檻。然而，近期重大修法已徹底改變外國投資者的法規環境，將監管環境從行政警告轉變為嚴厲的刑事打擊。
1. The Historical Burden of Proof (Supreme Court Order No. 2267/2550)
歷史上的舉證責任（最高法院第 2267/2550 號判決）
Historically, under the Anti-Money Laundering Act B.E. 2542 (1999), the burden of proof rested heavily on the prosecutor to establish beyond a reasonable doubt that seized assets were directly acquired through funds generated by a predicate offense. In Supreme Court Judgment No. 2267/2550, the prosecutor attempted to prove money laundering by arguing that the defendants' acquired assets were disproportionate to their low-income professions (one was unemployed, the other a motorcycle taxi driver). The Supreme Court dismissed the case, ruling that simply presuming guilt based on a lack of legitimate income is insufficient. Because the prosecutor failed to definitively prove that the defendants' alleged drug dealing generated the specific funds used to purchase the assets, the Court applied the benefit of the doubt and acquitted the defendants.
歷來根據《佛曆2542年反洗錢法》，檢察官承擔著極重的舉證責任，必須排除合理懷疑地證明被扣押的資產是直接透過上游犯罪所得的資金購買。在最高法院第 2267/2550 號判決中，檢察官試圖透過主張被告所獲得的資產與其低收入職業（一人無業，另一人為摩托計程車司機）不符來證明其洗錢。最高法院駁回了該案，裁定僅憑缺乏合法收入就推定有罪是不充分的。由於檢察官未能確鑿地證明被告涉嫌的毒品交易產生用於購買資產的特定資金，法院適用了罪疑唯輕原則並宣判無罪。
2. The 2025-2026 Regulatory Storm and AML Amendments
2025-2026 年監管風暴與反洗錢法修正案
To close the evidentiary loopholes seen in past court rulings, the Thai government has implemented four major legislative and enforcement upgrades for 2025-2026. The most critical update is the amendment to the Anti-Money Laundering Law, which now explicitly classifies "illegal nominee holding" as a foundational (predicate) crime for money laundering.
為補強過去法院判決中出現的證據漏洞，泰國政府在 2025-2026 年實施了四大重量級立法與執法升級。最關鍵的更新是《反洗錢法》的修正案，該法案現在明確將「非法代持」定性為洗錢罪的前置（上游）犯罪。
The fatal consequence of this legal linkage is clear: utilizing a nominee structure is now legally equivalent to money laundering. Consequently, any assets involved in a nominee arrangement—including land, real estate, factories, and bank accounts—are subject to direct freezing, seizure, and nationalization by the state.
此項法律聯動的致命後果非常明確：使用代持結構現在在法律上等同於洗錢。因此，涉及代持安排的任何資產——包括土地、房產、工廠和銀行帳戶——都將面臨被國家直接查封、扣押並收歸國有的命運。
3. Multi-Agency Enforcement and "Piercing" Reviews
跨部門聯合執法與「穿透式」審查
The era of lax enforcement has ended, replaced by aggressive, cross-departmental task forces encompassing the DBD, DSI, AMLO, FDA, and the Ministry of Labor. Key enforcement actions include:
鬆散執法的時代已經結束，取而代之的是由商業發展局 (DBD)、特別調查局 (DSI)、反洗錢辦公室 (AMLO)、食品藥物管理局 (FDA) 和勞工部組成的強硬跨部門聯合專案組。主要的執法行動包括：
The DBD has already conducted rigorous compliance inspections on 11,000 enterprises.
DBD 已經對 11,000 家企業進行了嚴格的合規稽查。
Authorities are dismantling massive illegal structures, highlighted by Special Case 93 involving a THB 1.692 billion project, and Special Case 94 which dismantled 103 shell companies.
當局正在瓦解龐大的非法結構，其中最引人注目的是涉及 16.92 億泰銖項目的第 93 號特案，以及拆解了 103 家空殼公司的第 94 號特案。
The DBD has implemented a "full-cycle piercing" review methodology to detect nominees.
DBD 已實施「全周期穿透式」審查方法來偵測代持行為。
This scrutiny includes explicitly tracing bank statements over a 3-month period. 此項審查包含明確追溯近 3 個月的銀行交易明細。
Big data is actively utilized to screen and identify low-income Thai individuals acting as front shareholders.
大數據被積極用於篩選和識別充當人頭股東的低收入泰國籍人士。
Regulators have placed strict restrictions on registering multiple companies at a single address.
監管機構已對在單一地址註冊多家公司實施了嚴格限制。
Thailand has introduced its first specialized deportation regulations, accelerating the repatriation and blacklisting of six specific categories of illegal foreigners.
泰國出台了首部專項驅逐法規，加速對六類違法外國人的遣返與列入黑名單。
4. Legal Alternatives for Foreign Investors
外國投資者的合法替代方案
Operating through a nominee structure to circumvent the 49% foreign ownership cap violates Sections 36 and 37 of the Foreign Business Act (FBA), subjecting offenders to a maximum of 3 years in prison and fines ranging from THB 100,000 to 1,000,000. To safeguard investments and avoid asset confiscation, foreign investors must secure legal pathways for 100% foreign ownership, such as applying for Board of Investment (BOI) promotion, establishing operations within Industrial Estate Authority of Thailand (IEAT) zones, or utilizing the Treaty of Amity.
透過代持結構規避 49% 的外資持股上限，違反了《外人商業法》(FBA) 第 36 和 37 條，違法者將面臨最高 3 年監禁以及 10 萬至 100 萬泰銖的罰款。為了保障投資並避免資產被沒收，外國投資者必須透過合法途徑取得 100% 的外資控股資格，例如申請投資促進委員會 (BOI) 的投資促進、在泰國工業區管理局 (IEAT) 園區內設立營運據點，或利用《美泰友好條約》。
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