A man accused of using fake banknotes to scam an elderly woman out of 10,000 baht in Yala was arrested in Bangkok yesterday, April 25, after allegedly losing heavily from Forex trading.
The Economic Crime Suppression Division (ECD) arrested 39 year old Abdulloh in front of a condominium in Phra Khanong, Bangkok. He was wanted under a Yala Provincial Court warrant dated June 4, 2025, on charges of counterfeiting currency and fraud.
Police said the case began between 2024 and 2025, when the suspect allegedly became heavily involved in Forex trading and lost several hundred thousand baht.
He reportedly borrowed money from relatives and people close to him before running out of ways to raise more funds.
Investigators said he then copied Thai 500 baht banknotes in colour, cut them to the same size as real notes, and placed 20 fake notes in a paper envelope to conceal them.
The suspect allegedly went to a grocery shop away from his village and targeted an elderly woman. He claimed he urgently needed to transfer 10,000 baht but only had cash, then asked her to transfer the money to an account in exchange for the envelope.
The woman believed him and made the transfer. After checking the envelope, she found the notes were fake and tried to challenge him, but he allegedly fled on a motorcycle.
The woman filed a complaint with Mueang Yala Police Station, leading investigators to track Abdulloh to Bangkok.
Police said the suspect confessed to the charges after his arrest. He was then handed over to Mueang Yala Police Station for further legal action.
Matichon reported that the Central Investigation Bureau (CIB) warned the public that Forex investment carries high risks from both market volatility and scams.
Officials said leverage can increase profits from a small investment but can also wipe out funds quickly.
Forex trading is not protected under Thai law because no brokers are registered in Thailand, the CIB added. If problems arise with foreign brokers, victims cannot seek help from agencies such as the Bank of Thailand or the Securities and Exchange Commission, and people are urged to consider the risks carefully before investing.
Elsewhere, an ice cream vendor in Ang Thong was targeted in a fake 1,000 baht note scam by a fraudster posing as a customer ordering ice cream. The man allegedly altered a 100 baht note with a blue marker to make it look like a 1,000 baht note.