The suspects, Martin Philip Javellana Magno, 31, and Per Johan Robin Bentley, 29, previously operated in the Philippines and South Korea, the report said.
Police apprehended them as they tried to use fake cards to buy products at the hypermart chain Tesco Lotus Kham Tiang in Chiang Mai last Monday, the news report dated August 26 said.
The two were found in possession of 500 cloned cards, an ATM skimmer, two spy cameras and other tools used to produce fake cards during a search of their hotel room in Chiang Mai. They told investigators that they bought the skimmers and other equipment for fraud from China, the report said.
An investigation was launched after an employee of Kasikornbank, a universal banking group in Thailand, notified police that someone was using bogus cards to withdraw money from its ATMs in Chiang Mai, said Provincial Police Region 5 Deputy Commissioner Thanitsak Theerasawas
The suspects, who arrived in Thailand three years ago, were under surveillance for several days and were arrested after they used cloned cards at the Tesco Lotus.
Magno and Bentley admitted to stealing in several big cities in Thailand, including Hat Yai, Chiang Mai and Bangkok.