Frozen Thai bank accounts

[Jun]

Has anyone heard of any cases where a user has been unable to unlock a legitimate account ?

I'll define legitimate account as one operated by the account holder for his own use without any fraudulent activity.

As for checking if it's a mule account, shouldn't they do that BEFORE freezing the account, rather than after ?

[Gaybutton]

As for checking if it's a mule account, shouldn't they do that BEFORE freezing the account, rather than after ?

That is so typical of the way things happen. Over the years we've seen the same approach in many different contexts. Knee-jerk actions without thinking things through - and if they even make any corrections later, those are often just as knee-jerk - after the damage is done.

In my opinion freezing innocent people's bank accounts, especially low income people, in the name of stopping crime is going way too far. And we still have not heard anything at all as to whether this bank account freezing has actually solved a thing. If this has really halted scams, mule accounts, and fraud, then why don't they tell us how many successes they've had?

I wonder how many people were doing transactions in the first place that were large enough to generate suspicion that these were probably mule transactions or scam transactions and warranted freezing the accounts.

Also, in my opinion, this is well within the top 10 hare brained schemes I've seen over the years. For some strange reason I don't see anyone standing up and saying "This was my idea" . . .
______________________________________________________________________

Thais Fear Bank Account Freezes Amid Crackdown on Mule Accounts, Survey Finds

By Adam Judd

September 22, 2025

A majority of ordinary Thais are deeply worried that their personal bank accounts could be frozen as authorities ramp up enforcement against mule accounts and online scams, according to a nationwide survey released on Sunday.

The poll, conducted by Suan Dusit University—commonly known as Suan Dusit Poll—gathered responses from 1,154 participants across Thailand between September 16th and 19th. The findings show a widespread anxiety among the public, with most respondents expressing concern that legitimate financial activities could be mistakenly disrupted by the aggressive anti-fraud measures. “Even those not involved in any wrongdoing fear they might get caught in the net,” one respondent noted in the survey summary.

This apprehension comes amid a sweeping government crackdown on financial fraud that has seen millions of bank accounts suspended since early 2025. The Bank of Thailand (BoT), together with the Cyber Crime Investigation Bureau and the Ministry of Digital Economy and Society, has targeted so-called “mule accounts”—bank accounts exploited by scammers to launder money from call center fraud, investment scams, and other cybercrimes. By mid-September 2025, authorities had frozen over three million such accounts, imposing transfer limits of 50,000 baht ($1,570) per transaction to hinder criminals’ ability to move illegal funds swiftly.

The program, which gained major momentum in August 2025, has frozen thousands of accounts weekly, peaking at around 14,000 suspensions between August 17 and 23, before dropping to about 10,000 in early September. While aimed at recovering assets for scam victims—estimated losses from online fraud reached billions of baht last year—the measures have ensnared innocent users, including small business owners, online vendors, and even expats as we discussed here.

Complaints have surged, with many reporting delays of up to a week in accessing their funds, raising economic pressures in a country already grappling with high household debt and unemployment.

In response to the backlash, the BoT has pledged to streamline the verification process, aiming to unlock frozen accounts within one day—or as quickly as three to four hours—once banks confirm no links to mule activity. Officials stated that only accounts receiving funds from confirmed mule transfers are targeted, but the survey highlights a trust deficit: respondents called for clearer guidelines and faster resolutions to protect everyday citizens.

https://thepattayanews.com/2025/09/22/t ... vey-finds/

[Dodger]

Just a short while back we were talking about how the use of banking apps to pay bills and make other transactions was so safe, reliable, and efficient, etc., and here we are in the middle of a banking catastrophe where accounts are being suspended and chaos reigns. Here is what the experts are saying now (as reported yesterday in Pattayamail):

"Experts say mule accounts have become one of Thailand’s most widespread cybercrime issues, fueled by the rapid expansion of electronic transactions since the COVID-19 pandemic. They warn that such accounts enable fraud schemes that threaten both individuals and the broader economy".

I think I'll keep doing my banking the old-fashioned way a while longer. Like a lifetime longer.

[Dodger]

How to Protect Ourselves from Mule Accounts:

https://www.kasikornglobalpayment.com/e ... t#section2

[Jun]

I think I'll keep doing my banking the old-fashioned way a while longer. Like a lifetime longer.

Don't count on having bank branches in 10, 20 or 30 years time.

When I was in school, there were branches of my parents bank at distances of 4, 9 & 11 miles from their house. My mother's nearest bank branch is now 30 miles away. She could improve this by changing bank, but having done that once, she isn't going to bother again. She uses the app on her iPhone.

Thailand is also closing bank branches, but has further to go. Perhaps the fondness for tea money might keep cash relevant for longer.

[Gaybutton]

Thailand is also closing bank branches, but has further to go. Perhaps the fondness for tea money might keep cash relevant for longer.

Also it seems like virtual banks are up and coming. That's how WISE does it - Money is sent to the virtual bank account WISE set up for you. Then it is paid out to your bank account in Thailand. If I remember correctly WISE works only with Bangkok Bank and Kasikorn Bank (K-Bank).

I think the time is coming, sooner or later, when virtually all banking will be done by virtual banks and physical bank branches will be an obsolete thing of the past.

[Dodger]

I think the time is coming, sooner or later, when virtually all banking will be done by virtual banks and physical bank branches will be an obsolete thing of the past.

Of course!

Sooner or later a whole hell of a lot of thing s are going to change. The average mortality rate of humans will exceed 100 years due to robotic organ transplants...planes, trains, and automobiles will be a thing of the past - replaced by personal transport capsules that beam you to a desired location without even moving (beam me up Scotty). And cash financial systems will be replaced by interactive crypto currency transaction modules where all you'll have to do to make a purchase is blink your eyes and your transaction is complete in a Nano second.

Yes, a lot of things will change, but fortunately, or unfortunately depending on how you view this, we won't be here to experience it...at least in the form that we are now.

My advice to myself when it comes to managing my finances is to keep things simple, and avoid electronic transactions using the internet as much as possible.

Jai just asked me last week why I just didn't buy the running shoes I wanted on Lazada, and I told him that the places that sell them on Lazada only accept credit card payments and won't accept cash on delivery. I'm extremely cautious about putting my credit card details on the internet for the very same reason that I avoid mobile and internet banking.

[Jun]

Yes, a lot of things will change, but fortunately, or unfortunately depending on how you view this, we won't be here to experience it...at least in the form that we are now.
My advice to myself when it comes to managing my finances is to keep things simple, and avoid electronic transactions using the internet as much as possible.

It's already happening. You're relying on Thailand being a couple of decades behind.

Jai just asked me last week why I just didn't buy the running shoes I wanted on Lazada, and I told him that the places that sell them on Lazada only accept credit card payments and won't accept cash on delivery. I'm extremely cautious about putting my credit card details on the internet for the very same reason that I avoid mobile and internet banking.

The credit card company usually takes responsibility for any fraud. The only fraud I've ever experienced on a credit card was from physical transactions. In one case, involving immigrant workers at a fuel station. The credit card company picked up the tab. And so they should, as it is Mastercard & Visa who deem a retailer fit to participate in their network.

Incidentally, on my latest credit card, every transaction shows up on the phone app immediately. That's more secure than doing it the old way.

Also, if I didn't have internet banking, I would be sat here wondering if the green bank have frozen my bank account. I can see they have not done so via the app.

[Dodger]

It's already happening. You're relying on Thailand being a couple of decades behind.

You can't have the type of security and reliability needed for management of automated on-line banking systems when they're contaminated by corruption. Impossible!

I can see Thailand continuing to struggle with the security of their banking systems for a long time for this very reason.

By-the-way: I have 100% trust in AMEX...relied on the services throughout my whole career for all my travel and other business expenses...and still proudly carry their gold card in my wallet. To your point, their credit card security systems are excellent - covering my ass on several occasions over the years when erroneous charges were applied to my card.

[Gaybutton]

To me there is nothing to debate about. No debate is going to change the minds of those who distrust online banking or online anything else. If you don't trust online banking, very simple - don't use online banking.