Thai authorities announced on Wednesday that more than $300 million in assets have been seized and arrest warrants issued for 42 individuals in a sweeping crackdown targeting transnational scam networks operating across Southeast Asia. The operation focused on large online fraud groups active along the Thailand-Myanmar-Cambodia border region.

According to Deputy Commissioner of the Central Investigation Bureau Sophon Saraphat, investigators confiscated assets valued at THB 10.15 billion (USD 318 million). Twenty-nine suspects have been taken into custody so far.

Thailand’s Anti-Money Laundering Office (AMLO) reported uncovering multiple cross-border criminal activities involving online fraud, human trafficking and money laundering. Officials confirmed that several of the seized assets were directly linked to individuals associated with regional criminal organizations. The whereabouts of some key figures remain unclear, and it is not yet confirmed whether they are among those named in the arrest warrants.

Regional financial regulators have also increased scrutiny. In recent months, authorities in Hong Kong and Singapore froze or seized related assets valued at USD 354 million and USD 116 million, respectively.

Thai investigators additionally seized several securities and investment accounts connected to members of regional business networks, including shares worth THB 6 billion (USD 188 million) in a major energy company. The company said the enforcement actions concern an individual shareholder and do not affect operations.

Thai officials stated that they will continue targeting cross-border scam operations, illegal compounds and exploitation networks to dismantle their financial structures and prevent illicit proceeds from entering Thailand’s economy.