This follows the pair's conviction for malfeasance in connection with the purchase of fire trucks and boats.
Amlo chief Seehanat Prayoonrat said his agency will read the Supreme Court's Criminal Division for Holders of Political Positions' ruling thoroughly to see if it can act in this case.
The Supreme Court on Tuesday found Pracha and Pol Maj Gen Athilak Tanchukiat guilty for their roles in the 6.687-billion-baht fire truck and boat procurement deal.
Pracha was handed a 12-year prison term and Pol Maj Gen Athilak a 10-year term.
Pol Col Seehanat said Amlo will look into the court's ruling for sections related to illegally gained assets.
If there is a clear indication of ill-gotten assets, the agency will assign its transaction committee to proceed with the matter, he said.
He said financial institutions will be asked to provide information about the duo's assets for asset confiscation consideration.
Pol Col Seehanat said he did not know if the National Anti-Corruption Commission (NACC) had made any inquiries about alleged unusual wealth in connection with the fire vehicle procurement case.
In a criminal case like the fire truck and boat deal, Amlo will step in to consider asset confiscation after the case is finalised, he said.
Based on the asset declaration report filed by Pracha to the NACC one year after leaving office as the tourism and sports minister on Sept 19, 2007, he had assets worth 623.9 million baht and liabilities worth 3.72 billion baht.
His spouse had assets worth 55.9 million baht and zero debts.
The breakdown of the assets showed he had 218.1 million baht in bank deposits, 148.6 million baht worth of investments and 82 plots of land worth 154.9 million baht. Pracha also had 1 million shares worth 100 million baht in Maleenont Tower Co.
The ex-minister was a founding member of TVB Three Network, which was set up in 1996. The company was partly owned by TVB (Overseas) Co, which had a registered address in Bermuda.
Pracha is a board member of 20 companies including Bangkok Entertainment Co, operator of Channel 3, PM Energy Co, Wave Entertainment Co and Thai Solar Energy Co.
He was among five people indicted by the NACC for malfeasance and price collusion over the purchase of 315 fire trucks and 30 fire boats for the Bangkok Metropolitan Administration. Pracha oversaw City Hall while he was deputy interior minister.
Chakkrit Srivali, deputy chief of the Information Department at the Foreign Ministry, said no request had been submitted to ask the ministry to help bring Pracha back following the conviction.
He said immigration authorities are likely to be able to confirm if Pracha has left the country. According to Mr Chakkrit, there has been no request from the Justice Ministry seeking the cancellation of Pracha's passport.
Meanwhile, Pol Col Pichai Kriangwattanasiri, director of City Hall's Disaster Prevention and Mitigation Department, said the BMA cannot do anything with the fire trucks and boats as a result of the court ruling.
He said the vehicles will remain where they are until the international court of arbitration rules on the dispute.
He said that as far as he knows the fire truck engines are in good condition while other parts have deteriorated over time. If the BMA would commission the vehicles, repair work would cost millions of baht, he said.
A source in the BMA's legal affairs department said the ruling is considered to be in favour of City Hall, which has a number of cases pending in court.