This has not happened to me. My bank accounts are working just fine. I hope it stays that way. I also hope the same is true for all of you.
Once again perfectly innocent people end up suffering through no fault of their own. I can understand Thailand wanting to put a stop to mule accounts and fraud, but causing these kinds of problems for people, let alone refusing to "unfreeze" people's accounts is hardly the way to go about it. They need to find ways of dealing with the problem without causing needless hardship for thousands. It's one thing when the goings-on cause inconvenience. It's quite another when people suddenly find they have no access to their own money, often with no prior notice.
In my opinion, freezing people's bank accounts based merely on suspicion, but no solid evidence of wrongdoing, is going way too far, especially when they make it highly difficult for innocent people to regain access to their money. I'm all for combating fraud, scams, and mule accounts, but don't even think about doing it by playing games with my money.
Thailand has been trying to become a cashless society. People like me, for example, are encouraged to carry only small amounts of cash and rely on things like bank transfers and Prompt Pay to take care of their needs. These kinds of incidents are bound to cause people to think twice about keeping virtually all their money in Thai bank accounts. I wouldn't be surprised and wouldn't blame people who, as a result, decide to keep none of their money in a Thai bank account other than what they need for immigration.
Here's what is going on:
______________________________________________________________________________________________________________________
Central Regulator Bank of Thailand to Take Urgent Action After Thousands of Complaints of Claims of Incorrectly Frozen Accounts in Banks Crackdown Against Scammers
By Adam Judd
September 14, 2025
In a nation increasingly plagued by online scams, Thailand’s financial regulators are taking decisive action to dismantle the networks that exploit “mule” accounts—bank accounts used by fraudsters to launder stolen funds. However, this aggressive approach has led to widespread disruptions for innocent customers, both foreigners and Thais, prompting urgent interventions from the Bank of Thailand (BOT).
On September 13th, 2025, BOT Assistant Governor Daranee Saeju announced plans for a critical meeting the following Monday with commercial banks and the Anti-Online Scam Operations Centre (AOC) to refine the procedures for freezing and unfreezing suspicious accounts. This development comes amid a surge in complaints from everyday Thais and, notably, foreign customers who have found themselves locked out of their funds without warning, many for weeks.
The meeting, scheduled for September 15, 2025, aims to address procedural flaws that have inadvertently ensnared legitimate account holders. As Thailand grapples with a sophisticated scam ecosystem—responsible for billions of baht in losses annually—these measures show the tension between national security and individual financial rights. This article delves into the background of the issue, key statements from officials, the specific challenges faced by foreign customers, and the broader implications for Thailand’s banking sector.
The Rise of Mule Accounts and the Need for Freezing Protocols
Thailand has become a hotspot for online scams, with criminal syndicates often operating from neighboring countries like Cambodia and Myanmar. These groups recruit locals or unwitting individuals to open bank accounts that serve as “mules” to receive and transfer illicit funds. According to data from the AOC, over 92,000 such accounts were suspended in the first two months of 2025 alone, contributing to a total of 547,558 suspensions since the center’s inception in November 2023. Additionally, authorities arrested 523 mule account owners between December 2024 and January 2025, showing the scale of the problem.
Freezing these accounts is a crucial tool in the fight against scams. As Daranee Saeju explained on September 13th, “Freezing suspected accounts was vital for tracking and returning stolen funds to scam victims.” She stated that the AOC, in teamwork with commercial banks, is intensifying probes into financial transactions to recover as much money as possible for victims. However, the process has not been without glitches. In recent weeks, thousands of accounts—personal and small business alike—have been frozen as part of a sweeping crackdown led by the Technology Crime Suppression Division (TCSD) and banks. This has sparked a “banking crisis,” with reports of nationwide panic and a rush to withdraw cash.
The BOT has acknowledged that while these freezes are meant to target accounts receiving transfers from confirmed mule accounts, the rapid expansion of investigations could impact more innocent users. “Only accounts that received money from mule accounts have been frozen,” Saeju claimed, but she admitted the procedures need refinement to minimize collateral damage. Meanwhile, comments online disagreed with her statement with many retired foreign customers in particular saying they simply had pensions and overseas funds normally deposited and had nothing to do with scams or mule accounts. TPN Media notes that some banks had also been looking for clients who had improperly opened accounts on invalid visas like tourist or DTVs, or those with sim cards not matching their client registration, which is a separate issue.
Agencies have tentatively agreed to update the freezing and unfreezing processes, with new measures set to be implemented immediately following the Monday meeting. For affected individuals with frozen accounts, the BOT recommends contacting the AOC hotline at 1441 (extension 2) for assistance in lifting restrictions. A Thai speaker is suggested.
Official Statements on the Freezing and Unfreezing Dilemma
Daranee Saeju’s remarks on September 13th were part of a broader effort to reassure the public while outlining corrective steps. As assistant governor for Payments Systems Policy and Financial Consumer Protection, she pointed out two primary causes behind recent procedural errors: Technical glitches in verification systems and overly broad application of suspicion criteria. “Authorities were working to improve the freezing and unfreezing procedures so scammers were dealt with effectively while ensuring ordinary customers were not affected,” she stated. Saeju also urged faster fund releases for those proven uninvolved in scams and directed unresolved cases to the BOT’s 1213 consumer hotline.
Other officials echoed the need for balance. Digital Economy and Society Minister Prasert Chanthararuangthong, who oversees the AOC, has repeatedly stressed the importance of teamwork between banks, the Anti-Money Laundering Office (AMLO), and law enforcement. In earlier 2025 statements, Prasert noted that over 1.66 million mule accounts had been frozen nationwide, crediting joint efforts under the Emergency Decree on Technology-Related Crimes. He also warned of penalties for those aiding scammers, including up to three years in jail and fines of 300,000 baht.
The BOT has also investigated specific incidents, such as a system error that led to erroneous freezes earlier in the week. Banks were instructed to compensate affected customers and implement safeguards against recurrence. “If the process does not comply with central bank regulations, banks must take immediate corrective action,” Saeju reiterated in a related context on bank compliance. These statements reflect a consensus among agencies: While the crackdown is essential, procedural updates are imperative to prevent undue hardship.
Foreign Customers’ Frustrations: A Growing Wave of Complaints
While the latest freezes primarily target scam-linked transactions, foreign customers have been voicing frustrations for months over similar issues, often unrelated to mules but tied to stricter Know Your Customer (KYC) and anti-money laundering (AML) rules. Since early 2025, commercial banks have enforced rigorous identity verification, freezing accounts held by foreigners without long-term visas. Tourist visas, including the 180-day Destination Thailand Visa (DTV), are no longer sufficient for maintaining or opening accounts, a policy shift aimed at curbing fraud but causing chaos for expats and visitors.
Reports indicate thousands of accounts have been frozen, particularly affecting Russian nationals, with an estimated 40,000 to 50,000 Russians residing in Thailand. Social media and expat forums are rife with stories of sudden card blocks, denied online access, and difficulties withdrawing funds. One Reddit user described waking up to a frozen bank account containing over 800,000 baht, opened legally in 2019 under a retirement visa, only to face a two-week ordeal for reactivation. “This is a new level of insanity,” lamented another expat on a Thai news comment thread, highlighting how the policy disrupts daily life, from paying rent to medical emergencies.
The frustration stems from inconsistent enforcement and lack of clear communication. Banks halted new tourist accounts in January 2025 and began retroactively freezing existing ones, often without prior notice. A May 2025 scandal, where bank employees were arrested for aiding scammers in opening 462 mule accounts linked to a 2.2 billion baht fraud, accelerated these measures. Foreigners report varying branch experiences: some succeed with extra documents like marriage certificates or property deeds, while others endure repeated denials.
Critics argue the rules, while aligned with global standards, overlook Thailand’s tourism-driven economy. Russian tourists in Phuket and Pattaya have been hit hardest, with outrage over frozen funds essential for travel and living expenses. “No wonder people are starting to consider other destinations,” one commenter wrote. The BOT has responded by mandating banks to clarify cases directly with customers and verify identities promptly, but foreign account holders continue to feel the pinch, especially as daily transfer limits (e.g., 50,000 baht) compound the inconvenience.
Implications and the Path Forward
The upcoming BOT-AOC-banks meeting represents a pivotal moment in reconciling Thailand’s anti-scam crusade with consumer safeguards. By streamlining unfreezing processes and enhancing verification accuracy, authorities hope to restore public confidence. For foreign customers, clearer guidelines on visa eligibility could mitigate ongoing disruptions, potentially requiring advocacy from expat groups.
In the interim, affected individuals—Thai or foreign—should gather documentation (passports, visas, proof of address) and contact their banks or hotlines immediately. Diversifying accounts across multiple banks is a common recommendation from expats to avoid total lockouts. As Thailand advances its digital economy, these reforms could set a precedent for balancing security with accessibility, ensuring that the fight against scams doesn’t alienate the very customers who fuel the nation’s growth.
https://thepattayanews.com/2025/09/14/c ... -scammers/
Frozen Thai bank accounts
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Gaybutton
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Re: Frozen Thai bank accounts
"We urge the public not to panic. The suspension is only temporary and will be lifted once checks confirm no wrongdoing."
That's not good enough. While accounts are suspended people can't pay their bills or anything else. In my own case, for example, my health insurance automatically deducts my premium payment from my bank account. If they can't do the deduction and I have no way to send them the money, I could lose my health insurance. If my account were frozen and my electric bill arrives, if I have no way to pay, it wouldn't take long before I find myself without electricity. People can't live without being able to access their money.
Suspending people's bank accounts is an unfair, absurd knee-jerk response that is probably causing far more problems than successfully stopping fraud. They need to find other ways of doing this besides causing this kind of problem. The way they're doing it, it's "If you want access to your money, first prove you're not a criminal" when it ought to be "Before you lock my bank account, first prove I am one". Why do I think whoever thought up this scheme made damned sure his own account wouldn't be frozen . . . ?
____________________________________
DES urges calm amid locked bank accounts
'War room' to handle frozen bank accounts
by Wassayos Ngamkham
September 15, 2025
The Digital Economy and Society (DES) Ministry has opened a special "war room" to urgently address complaints over frozen bank accounts, after a surge of reports from online vendors and individuals who found their funds locked due to suspected links with so-called "mule accounts."
The move came after the Bank of Thailand (BoT), commercial banks, and law enforcement agencies held urgent talks on Sunday to address growing public concern over the temporary suspension of the accounts. "Mule accounts" are often opened by unknowing parties to receive transfers from victims of financial fraud.
DES permanent secretary Wisit Wisitsora-at, chairman of the meeting, said the reports which prompted the concerns were not full seizures but temporary suspensions of suspect funds, pending verification.
"This is not an account freeze in the strict legal sense, but a temporary suspension of certain amounts of money suspected to be tied to mule accounts. Other balances and transactions remain usable," Mr Wisit said.
"We urge the public not to panic. The suspension is only temporary and will be lifted once checks confirm no wrongdoing."
The DES said commercial banks may suspend suspect funds for up to three days, while the police may extend the suspension to seven days. If no evidence is found within that period, the frozen amount is released and returned to the account, he said.
Some affected people reported negative balances after funds were deducted. Mr Wisit said this occurred in cases where an account had insufficient funds compared to earlier amounts flagged as linked to mule transactions, creating a temporary deficit.
He stressed that permanent account freezes can only occur under a police-issued order, backed by evidence and court procedures. "Suspensions by banks or the Anti-Money Laundering Office (Amlo) are temporary measures to allow time for investigation," he said.
"The DES, in coordination with the Bank of Thailand, the Thai Bankers' Association, the Cyber Crime Investigation Bureau (CCIB), and Amlo, agreed to set up a joint war room. The unit will examine cases in detail and separate innocent victims from those knowingly involved in criminal activities," he said.
Criteria include reviewing money transfer routes, transaction patterns and whether account usage matched the owner's regular financial behaviour. If no link to criminal activity is found, the war room will order the immediate lifting of the suspension. "The review can be completed within minutes once the facts are clear," Mr Wisit said, adding the ministry received more than 600–700 calls from affected people in one morning alone.
CCIB commissioner Pol Lt Gen Trairong Phiwpan said scammers previously relied on mule accounts but now often purchase goods from legitimate sellers, then resell them for cash. "Culprits now are using this more sophisticated method, which leaves innocent people trapped in money-laundering cases," he said.
Some vendors, he added, have knowingly cooperated with scammers by staging fake sales in exchange for commissions, while others were tricked. In one case, a scammer transferred 100,000 baht into a child's account, then persuaded the child to forward the funds -- leading to the account being flagged and frozen.
To address the situation, the CCIB has deployed additional officers to handle complaints and speed up the unfreezing process. Victims are advised to contact their local police stations or call the hotlines 1441 and 095-425-7478.
"Our aim is to release suspended funds quickly for innocent citizens, while ensuring law enforcement has the time to pursue real offenders," Mr Wisit said.
When a suspension is lifted, the bank will notify the account holder directly, Mr Wisit said, adding the DES or the Anti-Online Scam Operation Centre (AOC) will not call customers directly.
https://www.bangkokpost.com/thailand/ge ... k-accounts
That's not good enough. While accounts are suspended people can't pay their bills or anything else. In my own case, for example, my health insurance automatically deducts my premium payment from my bank account. If they can't do the deduction and I have no way to send them the money, I could lose my health insurance. If my account were frozen and my electric bill arrives, if I have no way to pay, it wouldn't take long before I find myself without electricity. People can't live without being able to access their money.
Suspending people's bank accounts is an unfair, absurd knee-jerk response that is probably causing far more problems than successfully stopping fraud. They need to find other ways of doing this besides causing this kind of problem. The way they're doing it, it's "If you want access to your money, first prove you're not a criminal" when it ought to be "Before you lock my bank account, first prove I am one". Why do I think whoever thought up this scheme made damned sure his own account wouldn't be frozen . . . ?
____________________________________
DES urges calm amid locked bank accounts
'War room' to handle frozen bank accounts
by Wassayos Ngamkham
September 15, 2025
The Digital Economy and Society (DES) Ministry has opened a special "war room" to urgently address complaints over frozen bank accounts, after a surge of reports from online vendors and individuals who found their funds locked due to suspected links with so-called "mule accounts."
The move came after the Bank of Thailand (BoT), commercial banks, and law enforcement agencies held urgent talks on Sunday to address growing public concern over the temporary suspension of the accounts. "Mule accounts" are often opened by unknowing parties to receive transfers from victims of financial fraud.
DES permanent secretary Wisit Wisitsora-at, chairman of the meeting, said the reports which prompted the concerns were not full seizures but temporary suspensions of suspect funds, pending verification.
"This is not an account freeze in the strict legal sense, but a temporary suspension of certain amounts of money suspected to be tied to mule accounts. Other balances and transactions remain usable," Mr Wisit said.
"We urge the public not to panic. The suspension is only temporary and will be lifted once checks confirm no wrongdoing."
The DES said commercial banks may suspend suspect funds for up to three days, while the police may extend the suspension to seven days. If no evidence is found within that period, the frozen amount is released and returned to the account, he said.
Some affected people reported negative balances after funds were deducted. Mr Wisit said this occurred in cases where an account had insufficient funds compared to earlier amounts flagged as linked to mule transactions, creating a temporary deficit.
He stressed that permanent account freezes can only occur under a police-issued order, backed by evidence and court procedures. "Suspensions by banks or the Anti-Money Laundering Office (Amlo) are temporary measures to allow time for investigation," he said.
"The DES, in coordination with the Bank of Thailand, the Thai Bankers' Association, the Cyber Crime Investigation Bureau (CCIB), and Amlo, agreed to set up a joint war room. The unit will examine cases in detail and separate innocent victims from those knowingly involved in criminal activities," he said.
Criteria include reviewing money transfer routes, transaction patterns and whether account usage matched the owner's regular financial behaviour. If no link to criminal activity is found, the war room will order the immediate lifting of the suspension. "The review can be completed within minutes once the facts are clear," Mr Wisit said, adding the ministry received more than 600–700 calls from affected people in one morning alone.
CCIB commissioner Pol Lt Gen Trairong Phiwpan said scammers previously relied on mule accounts but now often purchase goods from legitimate sellers, then resell them for cash. "Culprits now are using this more sophisticated method, which leaves innocent people trapped in money-laundering cases," he said.
Some vendors, he added, have knowingly cooperated with scammers by staging fake sales in exchange for commissions, while others were tricked. In one case, a scammer transferred 100,000 baht into a child's account, then persuaded the child to forward the funds -- leading to the account being flagged and frozen.
To address the situation, the CCIB has deployed additional officers to handle complaints and speed up the unfreezing process. Victims are advised to contact their local police stations or call the hotlines 1441 and 095-425-7478.
"Our aim is to release suspended funds quickly for innocent citizens, while ensuring law enforcement has the time to pursue real offenders," Mr Wisit said.
When a suspension is lifted, the bank will notify the account holder directly, Mr Wisit said, adding the DES or the Anti-Online Scam Operation Centre (AOC) will not call customers directly.
https://www.bangkokpost.com/thailand/ge ... k-accounts
Re: Frozen Thai bank accounts
I just returned from another visit to BKK Bank getting my visa extension documents in order and have now heard stories from a dozen irate foreigners (Brits, Americans, and one Russian) who are up-in-arms because of their accounts being frozen.
I'm not drawing any hard conclusions based on my casual conversations with these people but will say that every single irate person I talked to had either opened an account with the bank in question while still being a tourist and/or used the services of an agent to obtain their long-stay visa. Others who I talked to who are here on long-stay visas like myself who had opened their accounts after securing residence in Thailand had no problems whatsoever.
What's the moral of this story: Handle your visa and banking matters the right way in accordance with Thai law and you won't have any problems.
I feel sorry for those having their accounts frozen as well so don't take me wrong, but maybe they should have thought about doing things the right way from the beginning.
I'm not drawing any hard conclusions based on my casual conversations with these people but will say that every single irate person I talked to had either opened an account with the bank in question while still being a tourist and/or used the services of an agent to obtain their long-stay visa. Others who I talked to who are here on long-stay visas like myself who had opened their accounts after securing residence in Thailand had no problems whatsoever.
What's the moral of this story: Handle your visa and banking matters the right way in accordance with Thai law and you won't have any problems.
I feel sorry for those having their accounts frozen as well so don't take me wrong, but maybe they should have thought about doing things the right way from the beginning.
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Gaybutton
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Re: Frozen Thai bank accounts
Like you, I too opened my bank accounts the right way. The fact that nothing happened with our bank accounts may also have something to do with the length of time we've held them.
However, because of what is happening with the banks, now I'm a little apprehensive about having a visa agent handle renewing my driving license. I've always done that the right way too, but it is such a pain that I will probably take my chances with the visa agent anyway. I haven't heard about any crackdowns about that.
Besides, if the authorities stand in the way of visa agents obtaining Thai bank accounts and driving licenses for their clients, that would halt a lot of tea money. I find it difficult to believe they would let that happen.
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Re: Frozen Thai bank accounts
Bank of Thailand aims to quickly unlock frozen accounts
by Somruedi Banchongduang
September 15, 2025
The Bank of Thailand is expediting efforts to unlock the financial transactions of suspended accounts affected by investigations into mules.
In collaboration with relevant agencies, the regulator is upgrading its operational processes to better distinguish between mule accounts and legitimate ones, allowing the public to transfer money as usual, said Daranee Saeju, the central bank’s assistant governor for the Payment System Policy and Financial Protection Group.
Under the new system, banks will be able to unlock suspended transactions within one day, or as quickly as 3–4 hours per case, compared with the previous 3–7 days. The release would take place once banks verify that the transaction is not linked to mule activity. This measure has already been implemented.
Additionally, banks will notify customers in advance about temporary suspensions and the amounts involved. The rollout of this measure is scheduled for this month, depending on each bank’s readiness, Ms Daranee said.
The move follows widespread complaints concerning frozen bank accounts from depositors, particularly online vendors and individuals, whose money was frozen after being flagged for possible links to mule accounts.
Agencies involved in the initiative include the Bank of Thailand, the Digital Economy and Society Ministry, the Anti-Money Laundering Office, the Thai Bankers’ Association, and the Cyber Crime Investigation Bureau. Together, they have established a joint “war room” to examine cases in detail and separate innocent victims from financial scammers.
According to Ms Daranee, banks and related agencies will continue to track the flow of suspicious accounts, with investigations now expanded to cover e-money and digital assets. Since August, regulators have been scrutinising e-money transactions, which has led to a rise in the number of flagged accounts.
At the peak, between Aug 17-23 this year, around 14,000 accounts were suspended a week. This figure declined to about 10,000 accounts between Sept 7-11. While existing regulations aim to curb mule account activity, they have also affected innocent account holders.
“The relevant agencies are working to clearly separate scammers from innocent depositors, while ensuring legitimate customers can continue to conduct transactions with confidence,” Ms Daranee said.
In cases where innocent account holders are caught in the money flow of mule activity, they can contact the 1441 hotline to verify their identity. Banks typically process account verifications three times a day.
Ms Daranee added that the central bank is also monitoring deposit withdrawals but has not detected any irregularities. The central bank remains confident in the liquidity of the banking sector and continues to manage the situation appropriately, she said.
https://www.bangkokpost.com/business/ge ... n-accounts
by Somruedi Banchongduang
September 15, 2025
The Bank of Thailand is expediting efforts to unlock the financial transactions of suspended accounts affected by investigations into mules.
In collaboration with relevant agencies, the regulator is upgrading its operational processes to better distinguish between mule accounts and legitimate ones, allowing the public to transfer money as usual, said Daranee Saeju, the central bank’s assistant governor for the Payment System Policy and Financial Protection Group.
Under the new system, banks will be able to unlock suspended transactions within one day, or as quickly as 3–4 hours per case, compared with the previous 3–7 days. The release would take place once banks verify that the transaction is not linked to mule activity. This measure has already been implemented.
Additionally, banks will notify customers in advance about temporary suspensions and the amounts involved. The rollout of this measure is scheduled for this month, depending on each bank’s readiness, Ms Daranee said.
The move follows widespread complaints concerning frozen bank accounts from depositors, particularly online vendors and individuals, whose money was frozen after being flagged for possible links to mule accounts.
Agencies involved in the initiative include the Bank of Thailand, the Digital Economy and Society Ministry, the Anti-Money Laundering Office, the Thai Bankers’ Association, and the Cyber Crime Investigation Bureau. Together, they have established a joint “war room” to examine cases in detail and separate innocent victims from financial scammers.
According to Ms Daranee, banks and related agencies will continue to track the flow of suspicious accounts, with investigations now expanded to cover e-money and digital assets. Since August, regulators have been scrutinising e-money transactions, which has led to a rise in the number of flagged accounts.
At the peak, between Aug 17-23 this year, around 14,000 accounts were suspended a week. This figure declined to about 10,000 accounts between Sept 7-11. While existing regulations aim to curb mule account activity, they have also affected innocent account holders.
“The relevant agencies are working to clearly separate scammers from innocent depositors, while ensuring legitimate customers can continue to conduct transactions with confidence,” Ms Daranee said.
In cases where innocent account holders are caught in the money flow of mule activity, they can contact the 1441 hotline to verify their identity. Banks typically process account verifications three times a day.
Ms Daranee added that the central bank is also monitoring deposit withdrawals but has not detected any irregularities. The central bank remains confident in the liquidity of the banking sector and continues to manage the situation appropriately, she said.
https://www.bangkokpost.com/business/ge ... n-accounts
Re: Frozen Thai bank accounts
Absolute bullshit.
I had my mobile banking turned off all of a sudden with no explanation whatsoever. It took me two days of visiting the bank three times and Truemove office once, and then had to wait several days more to have it turned on again. All this to "verify my telephone number" which I already verified several years ago when I got it and showed passport, as well as verified to the bank when I got mobile banking.
So I had done nothing wrong but still got my bank service cut off without warning for several days. And of course this have happened to thousands of other innocent people. Disgusting to blame the victims instead of the banks.
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Gaybutton
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Gaybutton
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Re: Frozen Thai bank accounts
This nonsense about freezing accounts is one big screw-up. Somebody had to be the one who first thought up the idea of freezing people's accounts. I wouldn't want to be in the shoes of anyone involved in this scheme. Too many innocent people have been hurt. I wonder how many mule accounts and scammer accounts have actually been found and stopped by this method. I'm sorry, but causing so much hardship for innocent people is, to me, as wrong as it gets. People are not pleased when they find out their banks are screwing around with their money, no matter what their excuse for doing it is. This idiotic move has not only created a major brouhaha, but caused far more problems than it solved, and that's assuming they solved any problems at all.
I wonder how many people, as a result of this, no longer trust their banks.
______________________________________
Frozen bank account fears hamper QR codes
Retailers scared off by mule crackdown
by Kuakul Mornkum and Nareerat Wiriyapong
September 16, 2025
Restaurant, wholesale and retail associations have expressed their concern about offering transfer or QR payment options to customers, fearing their accounts might be frozen as authorities address the mule account issue.
Chanon Koetcharoen, president of the Restaurant Association, said that no members of his body had had their accounts frozen and none had stopped offering bank transfer options to their customers.
However, he anticipated that the news might raise concerns among restaurants in rural areas regarding these payment methods.
Typically, medium-sized to large restaurants operate on credit terms for purchasing raw materials and often hold multiple bank accounts.
If one account was frozen, it might not suddenly impact overall cash flow, he said.
However, small vendors and street food operators may only have a single account, and they heavily rely on daily cash flow. Thus, if their account were to be frozen, it would definitely impact their business.
"If the uncertainty persists, it may create more worry among operators, leading to a hesitance to use bank transfers or QR payments," Mr Chanon said.
Somchai Pornrattanacharoen, honorary advisor to the Thai Wholesale and Retail Trade Association, said his store now hesitated to provide bank transfers or QR payments to unfamiliar customers due to fears of their potential involvement with mule accounts.
"We don't know whether the money we receive is linked to a mule account, and if our store account were to be frozen, it would severely disrupt our cash flow," he said.
He said he knew one wholesaler in Pathum Thani whose store account was frozen for a week.
To tackle this challenge, Mr Somchai suggested the authorities limit the number of mobile SIM cards a person can possess, which could help curb fraud linked to scammers.
Mr Chanon urged the government to address the root causes of these issues by identifying original mule accounts and implementing stricter crackdowns from the beginning.
The authorities must keep the public informed about frozen accounts suspected of being mule accounts, he said.
Meanwhile, he said the authorities and banks should establish a hotline to provide information and assistance to those affected by the crackdown.
RAPID ACTION REQUIRED
Analysts warn that fixing errors stemming from the authorities' efforts to curb mule accounts needed to be carried out quickly to minimise any potential impact on the economy.
Thanyalak Vacharachaisurapol, deputy managing director at Kasikorn Research Centre, said the errors that caused the bank accounts of several innocent vendors to be frozen were likely caused by the authorities' oversight as regulators scrambled to tackle a rising number of mule accounts.
"Vulnerable groups, including small vendors, as well as senior citizens whose bank accounts rarely have online transactions, are the most affected groups," she told the Bangkok Post.
These initial efforts by regulators, the police and concerned agencies need to be fine-tuned to minimise potential errors and impacts affecting innocent holders of bank accounts, she said.
"I think the most effective way is to make the cost of opening a mule account more expensive, and the authorities need to figure out how to make that happen," Ms Thanyalak said.
Nonetheless, she said it should not take long for concerned authorities to clarify and fine-tune the details of their measures. Otherwise, domestic consumption would be adversely affected.
"For retailers and small vendors, I would recommend they have a couple of bank accounts with a couple of banks, instead of relying purely on just one account for their daily use," she said.
Poonyawat Sreesing, senior economist at Siam Commercial Bank's Economic Intelligence Center, also said the ongoing confusion about measures to tackle mule accounts should be resolved soon.
"Consumer sentiment is being hurt," Mr Poonyawat told the Bangkok Post. "If such concerns from consumers do not ease in a short period of time, consumption will be affected unavoidably."
If the concerns are prolonged, the negative consequences could be extended to the "Khon La Khrueng" co-payment programme that the new government plans to relaunch next month in an effort to stimulate the economy. It could also create an impact as all the transactions would be carried out via online transactions, he added.
https://www.bangkokpost.com/business/ge ... r-qr-codes
I wonder how many people, as a result of this, no longer trust their banks.
______________________________________
Frozen bank account fears hamper QR codes
Retailers scared off by mule crackdown
by Kuakul Mornkum and Nareerat Wiriyapong
September 16, 2025
Restaurant, wholesale and retail associations have expressed their concern about offering transfer or QR payment options to customers, fearing their accounts might be frozen as authorities address the mule account issue.
Chanon Koetcharoen, president of the Restaurant Association, said that no members of his body had had their accounts frozen and none had stopped offering bank transfer options to their customers.
However, he anticipated that the news might raise concerns among restaurants in rural areas regarding these payment methods.
Typically, medium-sized to large restaurants operate on credit terms for purchasing raw materials and often hold multiple bank accounts.
If one account was frozen, it might not suddenly impact overall cash flow, he said.
However, small vendors and street food operators may only have a single account, and they heavily rely on daily cash flow. Thus, if their account were to be frozen, it would definitely impact their business.
"If the uncertainty persists, it may create more worry among operators, leading to a hesitance to use bank transfers or QR payments," Mr Chanon said.
Somchai Pornrattanacharoen, honorary advisor to the Thai Wholesale and Retail Trade Association, said his store now hesitated to provide bank transfers or QR payments to unfamiliar customers due to fears of their potential involvement with mule accounts.
"We don't know whether the money we receive is linked to a mule account, and if our store account were to be frozen, it would severely disrupt our cash flow," he said.
He said he knew one wholesaler in Pathum Thani whose store account was frozen for a week.
To tackle this challenge, Mr Somchai suggested the authorities limit the number of mobile SIM cards a person can possess, which could help curb fraud linked to scammers.
Mr Chanon urged the government to address the root causes of these issues by identifying original mule accounts and implementing stricter crackdowns from the beginning.
The authorities must keep the public informed about frozen accounts suspected of being mule accounts, he said.
Meanwhile, he said the authorities and banks should establish a hotline to provide information and assistance to those affected by the crackdown.
RAPID ACTION REQUIRED
Analysts warn that fixing errors stemming from the authorities' efforts to curb mule accounts needed to be carried out quickly to minimise any potential impact on the economy.
Thanyalak Vacharachaisurapol, deputy managing director at Kasikorn Research Centre, said the errors that caused the bank accounts of several innocent vendors to be frozen were likely caused by the authorities' oversight as regulators scrambled to tackle a rising number of mule accounts.
"Vulnerable groups, including small vendors, as well as senior citizens whose bank accounts rarely have online transactions, are the most affected groups," she told the Bangkok Post.
These initial efforts by regulators, the police and concerned agencies need to be fine-tuned to minimise potential errors and impacts affecting innocent holders of bank accounts, she said.
"I think the most effective way is to make the cost of opening a mule account more expensive, and the authorities need to figure out how to make that happen," Ms Thanyalak said.
Nonetheless, she said it should not take long for concerned authorities to clarify and fine-tune the details of their measures. Otherwise, domestic consumption would be adversely affected.
"For retailers and small vendors, I would recommend they have a couple of bank accounts with a couple of banks, instead of relying purely on just one account for their daily use," she said.
Poonyawat Sreesing, senior economist at Siam Commercial Bank's Economic Intelligence Center, also said the ongoing confusion about measures to tackle mule accounts should be resolved soon.
"Consumer sentiment is being hurt," Mr Poonyawat told the Bangkok Post. "If such concerns from consumers do not ease in a short period of time, consumption will be affected unavoidably."
If the concerns are prolonged, the negative consequences could be extended to the "Khon La Khrueng" co-payment programme that the new government plans to relaunch next month in an effort to stimulate the economy. It could also create an impact as all the transactions would be carried out via online transactions, he added.
https://www.bangkokpost.com/business/ge ... r-qr-codes
Re: Frozen Thai bank accounts
Sorry to hear about your misfortune. The fact that your account was only froze for a few days is testament that you must be following the rules - because the majority of people who are having their accounts frozen are waiting weeks...if not longer.
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Gaybutton
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Re: Frozen Thai bank accounts
Meanwhile, it shouldn't have happened to him, and probably most others, in the first place. Again I see no valid reason for banks to be freezing people's accounts based on suspicion rather than solid evidence. You don't freeze people out of access to their money and afterwards investigate. You investigate first and if a competent investigation shows wrongdoing with the account, only then do you freeze it - and that only after notifying the account holder and giving him a chance to respond.
I neither want nor need "Big Brother" deciding I am involved in wrongdoing with my bank account and freezing it without my knowledge or opportunity to justify what I do with my account. That's MY money you're tampering with, and that is unacceptable no matter why you are doing it. Find another way of dealing with mules and fraudsters without invading my finances and privacy.