BANGKOK, September 15, 2025 — The Bank of Thailand (BOT) held an urgent meeting with commercial banks and the Anti-Online Scam Operations Centre (AOC) today to tackle the growing crisis over frozen bank accounts allegedly linked to a nationwide crackdown on online financial fraud. The meeting, held on Monday afternoon, aimed to refine procedures for suspending and unfreezing accounts to minimize disruptions for innocent customers while maintaining strong measures against scammers.
We first covered this story with in-depth analysis yesterday here at The Pattaya News. We suggest reading this first to better understand the situation.
Thailand has seen a surge in fraudulent activities, with losses reaching 6 billion baht (approximately $170 million USD) in Q2 2025 alone, driven by scams involving phishing, fake investments, and call-center operations. As part of intensified efforts, over 1 million (With some reports claiming as many as 3 million) bank accounts have been temporarily suspended since July, with 177,000 confirmed as “mule accounts” used to launder illicit funds. However, the broad sweep has inadvertently frozen hundreds of thousands, if not millions, of accounts of legitimate users, including small businesses and online vendors, sparking public outcry and economic disruptions.
Some of the accounts, especially foreign expats, have been frozen for weeks despite account holders stating they have provided ample documentation and proof they have nothing to do with scammers and have legitimate account information, valid visas, and updated sim card registration per bank policies. This has led to many foreign nationals stating their entire funds and expenses were locked leading to issues with rent, food, and other basic life needs, despite some bank officials claiming only funds suspected of being tied to scams were locked.
Account holders on social media vehemently disagreed, with dozens of stories of being entirely locked out and banks claiming they couldn’t do anything and had to wait weeks for the central office to review and release the funds.
Today’s discussions, led by BOT Assistant Governor Darunee Saeju, focused on streamlining the account suspension process and accelerating restorations for verified legitimate accounts. The meeting followed weekend talks with the Technology Crime Suppression Division (TCSD) and Cyber Crime Investigation Bureau (CCIB), where relevant individuals acknowledged the need for procedural updates to balance security and user convenience. “We are committed to protecting consumers while ensuring the financial system remains secure,” Saeju stated, promising quicker reviews to unfreeze accounts, with the eventual goal to do so reportedly within four business hours of having proper documentation and verification.
The BOT’s measures, including biometric authentication for high-value transactions and a 50,000-baht daily transfer cap for some parties introduced in August, align with global anti-money laundering standards. Yet, critics argue the rules have disrupted e-commerce and tourism, with some innocent account holders facing delays of days or even weeks. The Ministry of Digital Economy and Society’s “war room” hotline, launched to handle complaints, reported 600-700 calls in a single morning on September 14, promising resolutions “within minutes” for verified cases.
Banks pledged urgent action to review frozen accounts, with the BOT expected to issue clearer guidelines to prevent misclassification of legitimate accounts. Officials assured ongoing efforts to mitigate the crisis’s impact. The public is encouraged to contact DES hotlines or monitor BOT updates for further developments such as the hotline and war room HERE.
The Pattaya News notes that many freezes for foreign clients are unrelated to scams or mule accounts but tied to Know Your Customer (KYC) standards for having visas valid for a bank account, updated sim card registration, proper address and information on file. However, the Bank of Thailand also stressed that these freezes should be resolved as quickly as possible without weeks of delay once the customer has provided the required information and again concerned clients could contact the war room for assistance.
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