File picture for reference only.

 

The Bank of Thailand (BoT) has pledged to tighten its procedures for freezing and unfreezing suspected bank accounts after technical issues and police instructions led to several customers’ balances being displayed as negative. The central bank said the problems caused confusion and distress for affected individuals, but measures are being introduced to prevent a recurrence.

 

According to Daranee Saeju, Assistant Governor overseeing the Payment Systems Policy and Financial Consumer Protection Group, the central bank identified two separate causes behind the incidents. The first occurred on 1 September when some banks failed to update end-of-day transactions, leaving accounts showing outdated balances. This technical error was corrected the following day and banks were instructed to compensate affected customers and strengthen safeguards.

 

The second issue arose after police ordered banks to freeze accounts suspected of being linked to scams. In certain cases, the amount requested to be frozen exceeded the actual account balance, resulting in systems displaying negative figures. The BoT directed banks to clarify such discrepancies directly with customers to avoid unnecessary alarm.

 

Ms Daranee stressed that freezing accounts suspected of fraudulent activity remains essential in tracking and returning stolen funds to scam victims. She added that the authorities are working to refine the process so that scammers are effectively targeted without causing undue hardship to ordinary customers. Ensuring balance between enforcement and consumer protection has become a priority.

 

Looking ahead, the BoT said agencies will accelerate the release of funds for individuals found not to be involved in scams. Customers who encounter unresolved problems were urged to call the central bank’s 1213 hotline for immediate assistance. The measures are aimed at minimising disruption while ensuring financial crime investigations proceed efficiently.

 

Key Takeaways

 

• The Bank of Thailand admitted account freeze errors stemmed from both technical issues and police orders.

• Banks have been instructed to compensate affected customers and provide direct clarifications.

• Authorities will speed up releasing funds for people cleared of scam links.

 

Related Stories

 

Thailand-tightens-mobile-banking-to-curb-scams

 

More Thai news stories

 

 

  Adapted by Asean Now from Bangkokpost  2025-09-14

 

 

 

 

 

 

 

Merchants in Thailand Shun Digital Payments Amid Account Freezes

 

Picture courtesy of Sanook

 

Merchants across Thailand are opting for cash transactions as account freezes linked to mule accounts spread. This change follows numerous reports of unexpected account freezings, which alarmed businesses and consumers. A Facebook page named “Artrot” highlighted that regular individuals are withdrawing cash due to the fear of sudden account freezes, impacting their trust in digital transactions.

 

Background

 

The Bank of Thailand's crackdown on mule accounts, which are often used for laundering money, has inadvertently affected innocent account holders. Reports include instances where accounts were frozen despite the holders having no direct involvement with the mule accounts. Some faced balance deductions, while others saw entire account freezes, creating significant disruptions.

 

Reactions and Implications

 

The stringent checks aim to expand money trail investigations but have led to unintended hardships for the public. For instance, an account holder faced double freezes over a mere 860 baht transfer, and despite an appeal, the issue remained unresolved due to a complex and inefficient system. Another merchant experienced a payment freeze on 169,xxx baht after receiving funds from a suspected mule account, leaving her cashflow in disarray and no direct contact for resolution.

 

Adding to the woes, a merchant’s account was frozen for two months, despite efforts involving extensive documentation to rectify the situation. This bureaucratic tangle cost her both time and money, with inconsistencies in the advice she received from different officials adding to the complexity.

 

Legal Insights

 

Legal experts have voiced their concerns. Attorney Decha criticises the broad account freeze as a rights violation, while Attorney James LK believes only suspected amounts should be frozen rather than entire accounts. Attorney Ronnarong states that freezing without a valid court or Anti-Money Laundering Office order is unlawful, suggesting affected individuals may pursue civil suits for damages.

 

Looking Ahead

 

In response to this turmoil, the Bank of Thailand convened an urgent meeting to refine account freeze protocols. These changes focus on ensuring accuracy in identifying fraudulent activities and enhancing the unfreezing process to minimise delays and collateral damage.

 

For those impacted, the Anti-Online Scam Operation Centre provides assistance at 1441 and offers a unified platform to address these issues. Additionally, the Bank of Thailand's hotline at 1213 is available for urgent grievances, facilitating direct coordination with concerned banks.

 

Picture courtesy of Chiang Rai Times

 

Key Takeaways

 

• Merchants in Thailand turn to cash as account freezing fears rise.
• Legal experts warn that indiscriminate freezes may violate rights.
• The Bank of Thailand aims to refine freezing protocols urgently.

Related Stories:

 

Thailand's Cashless Leap: Ahead of the Asean Pack by 2028 

Thailand Tightens Mobile Banking to Curb Scams

 

 

  Adapted by ASEAN Now from Thai Newsroom 2025-09-15

 

 

10 minutes ago, webfact said:

Merchants in Thailand Shun Digital Payments Amid Account Freezes

 

Picture courtesy of Sanook

 

Merchants across Thailand are opting for cash transactions as account freezes linked to mule accounts spread. This change follows numerous reports of unexpected account freezings, which alarmed businesses and consumers. A Facebook page named “Artrot” highlighted that regular individuals are withdrawing cash due to the fear of sudden account freezes, impacting their trust in digital transactions.

 

Background

 

The Bank of Thailand's crackdown on mule accounts, which are often used for laundering money, has inadvertently affected innocent account holders. Reports include instances where accounts were frozen despite the holders having no direct involvement with the mule accounts. Some faced balance deductions, while others saw entire account freezes, creating significant disruptions.

 

Reactions and Implications

 

The stringent checks aim to expand money trail investigations but have led to unintended hardships for the public. For instance, an account holder faced double freezes over a mere 860 baht transfer, and despite an appeal, the issue remained unresolved due to a complex and inefficient system. Another merchant experienced a payment freeze on 169,xxx baht after receiving funds from a suspected mule account, leaving her cashflow in disarray and no direct contact for resolution.

 

Adding to the woes, a merchant’s account was frozen for two months, despite efforts involving extensive documentation to rectify the situation. This bureaucratic tangle cost her both time and money, with inconsistencies in the advice she received from different officials adding to the complexity.

 

Legal Insights

 

Legal experts have voiced their concerns. Attorney Decha criticises the broad account freeze as a rights violation, while Attorney James LK believes only suspected amounts should be frozen rather than entire accounts. Attorney Ronnarong states that freezing without a valid court or Anti-Money Laundering Office order is unlawful, suggesting affected individuals may pursue civil suits for damages.

 

Looking Ahead

 

In response to this turmoil, the Bank of Thailand convened an urgent meeting to refine account freeze protocols. These changes focus on ensuring accuracy in identifying fraudulent activities and enhancing the unfreezing process to minimise delays and collateral damage.

 

For those impacted, the Anti-Online Scam Operation Centre provides assistance at 1441 and offers a unified platform to address these issues. Additionally, the Bank of Thailand's hotline at 1213 is available for urgent grievances, facilitating direct coordination with concerned banks.

 

Picture courtesy of Chiang Rai Times

 

Key Takeaways

 

• Merchants in Thailand turn to cash as account freezing fears rise.
• Legal experts warn that indiscriminate freezes may violate rights.
• The Bank of Thailand aims to refine freezing protocols urgently.

Related Stories:

 

Thailand's Cashless Leap: Ahead of the Asean Pack by 2028 

Thailand Tightens Mobile Banking to Curb Scams

 

 

  Adapted by ASEAN Now from Thai Newsroom 2025-09-15

 

 

Cash is king.

1 hour ago, Hawaiian said:

Cash is king.

 

Hear,hear.

No later than next month after my one year extension I will take measures. Minimizing at Bangkok Bank and maybe even repatriating money.

More cash in safe becomes an option.

Who.would have believed that they can destroy trust in their banks.

The facial scanning on my kasikorn app is so secure, even I cant even access my money. 

 

I've gone back to cash. 

45 minutes ago, KhunBENQ said:

No later than next month after my one year extension I will take measures. Minimizing at Bangkok Bank

 

Don't you need to keep 800K in the bank? For the extension?

11 minutes ago, sungod said:

I cant even access my money. 

 

This could be the plan from Banks ?

15 minutes ago, watchcat said:

 

Don't you need to keep 800K in the bank? For the extension?

No, if you choose not to

36 minutes ago, ozfarang said:

No, if you choose not to

 

But then you'll not get an extension?

5 hours ago, webfact said:

Merchants across Thailand are opting for cash transactions as account freezes linked to mule accounts spread. This change follows numerous reports of unexpected account freezings, which alarmed businesses and consumers.

Hold the digital age... 

20 minutes ago, watchcat said:

 

But then you'll not get an extension?

Many people on extension of stays in Thailand choose not to deposit money in a Thai bank.

2 minutes ago, ozfarang said:

Many people on extension of stays in Thailand choose not to deposit money in a Thai bank.

 

Never heard of them, unless they use agents.

3 minutes ago, watchcat said:

 

Never heard of them, unless they use agents.

Think hard

48 minutes ago, ozfarang said:

Many people on extension of stays in Thailand choose not to deposit money in a Thai bank.

Are you referring to 1 year marriage/retirement extensions or a shorter variety that do not need money in the bank?

1 hour ago, watchcat said:

 

But then you'll not get an extension?

Strange! Do monthly transfers not count now, then!!?? 

55 minutes ago, ozfarang said:

Think hard

But with care. We don’t want any accidents! 

1 minute ago, Surasak said:

Strange! Do monthly transfers not count now, then!!?? 

 

That's an idea, but it'll not work for me as  I tput the money in the bank 15 or 20 years ago , when you got some sort of interes on the money.

20 minutes ago, DezLez said:

Are you referring to 1 year marriage/retirement extensions or a shorter variety that do not need money in the bank?

 fixed account year after year.

I know of 2 Thais recently who use Palmpay and have lost money from their bank to the receiver's bank {Bangkok Bank). She reported to the police, and she talked to others at the police station, and they had the same issues with the same bank. Police can do nothing and sent her to the bank and came away with the same answer as the police. After arriving in her bank account, the 3,000thb was taken out in 5 minutes.  FYI Only.

2 hours ago, watchcat said:

 

Don't you need to keep 800K in the bank? For the extension?

No I don't .

Monthly transfer and fallback is letter from consulate STILL available. Uncertain whether they will follow other countries.

3 minutes ago, KhunBENQ said:

No I don't .

Monthly transfer and fallback is letter from consulate STILL available. Uncertain whether they will follow other countries.

 

Ok.

1 hour ago, cdulaney said:

I know of 2 Thais recently who use Palmpay and have lost money from their bank to the receiver's bank {Bangkok Bank). She reported to the police, and she talked to others at the police station, and they had the same issues with the same bank. Police can do nothing and sent her to the bank and came away with the same answer as the police. After arriving in her bank account, the 3,000thb was taken out in 5 minutes.  FYI Only.

Palm Pay, licensed and insured in Nigeria.  No surprise.

3 hours ago, watchcat said:

 

Don't you need to keep 800K in the bank? For the extension?

 

There are numerous long stay options for not depositing money in a Thai bank.

 

I'm currently on a DTV, no deposit required. I've got 4 years left on it. If 4 years from now the DTV no longer exists and this banking nonsense still exists (or gets worse), I'd get a non-OA from my home country. Money kept out of Thailand (just like the DTV).

 

Yes, the OA requires medical insurance - but I have medical insurance anyways. The only slightly onerous items are the police and health checks. Health check I would do in Thailand. The police check takes about 5 minutes at a participating post office in America. They fingerprint you, send it off the the FBI, and they email you the results in less than 24 hours.

 

You can get 2 years out of an OA visa based on retirement. All money kept in an account in your home country (if your home country is OA eligible).

 

The third option, as someone already pointed out, is monthly transfers - but you're using a Thai bank for this. Yes, you're limiting your risk as you're essentially transferring only what you spend each month. But if your account gets locked at the wrong time it might mess up your monthly transfers and impact your future extension.

 

A fourth option for me would be the elite visa. Yes, it's more expensive, but the visa has a good history. Everyone has gotten what they paid for. There's a secondary market out there to purchase used elite visas at a discount. No money in a Thai bank.

 

A fifth option is agents - but I believe some agents are starting to have problems with these banking restrictions as well. If the restrictions get worse, this may not be an option in the future. I don't use agents so I'm not qualified to comment on this.

 

So lots of options, as usual, in Thailand.

2 hours ago, watchcat said:

 

Never heard of them, unless they use agents.

They use the monthly 65,000 or 40,000 baht method  so no need for the 800k

5 hours ago, watchcat said:

 fixed account year after year.

I asked about what type of extension not the type of funding account?

6 hours ago, watchcat said:

 

But then you'll not get an extension?

Khon kaen immigration told my wife ,after issuing extension, spend it... so she does 😆😆😆

There is also an article about gold flight out of Thailand. Soooo, liquidity problem?

9 hours ago, watchcat said:

 

Don't you need to keep 800K in the bank? For the extension?

If you have 65k Baht monthly, no!

21 hours ago, webfact said:

Merchants across Thailand are opting for cash transactions as account freezes linked to mule accounts spread.

 

Makes sense to me. With their mind-boggling ineptitude and casual attitude with regards to causing individuals and businesses severe financial harm, the authorities and banks risk that the public loses its trust in the banking system. All their efforts to make people go cashless rely on sustaining that trust.