Johor police chief Ayob Khan Mydin Pitchay said the 55-year-old is believed to be in hiding in Danok, Thailand.
He added that Teow's two sons, who acted as proxies for the syndicate, were still in Malaysia.
"We received information that the sons may surrender themselves to the police, and we are awaiting updates, " he said, adding that there was no place for them to run.
He was asked about updates on the search for Teow and his two sons, who have been linked to an elaborate web of scams through the setting up of shell companies using drug addicts as directors to launder ill-gotten gains before investing them in high-end properties in Malaysia and Thailand.
The Star had earlier reported that Teow, who has now been dubbed Jho Low 2, was in hiding in Thailand after he fled the country in January last year.
He founded MBI Group International in 2009 and was a key figure in the Island Red Café franchise between 2008 and 2010.
On Jan 3, the police smashed a syndicate involved in a Macau scam linked to Teow, which was believed to have used its ill-gotten gains to purchase properties and invest in cryptocurrencies totalling more than RM336 million (S$110.5 million).
At least 12 suspects, comprising nine men and three women, have been arrested including several company directors who were nabbed in a series of raids in Penang and Kuala Lumpur last month.