Bangkok Bootleg Money Changers Shut Doors for Now.

Sep. 8--Most unauthorised money changers in Bangkok have closed down in fear of a crackdown by police broadening their actions against money laundering.

The largest unauthorised money changer chain in the Pratu Nam area closed after police began to expand their investigation into the 7.5-billion-baht money laundering scam.

Bank of Thailand sources said they believed the money changers had been tipped off by some police officers, who reportedly received pay-offs, to temporarily cease their operations.

The Pratu Nam network had been blacklisted by the central bank, said a central bank official, adding that he believed it could be linked to the money-laundering gang.

Last week, police arrested Sarinra Mahamad, a junior executive at the UOB Radanasin Bank, on charges of illegally transferring more than 7.5 billion baht out of the country. Police later arrested five more suspects and are looking for 14 others.

A preliminary investigation discovered that the money laundering was linked to oil smuggling.

However, oil industry sources said oil smuggling alone could not generate more than 7.5 billion baht in three years. Other illegal businesses must be involved, they said.