Thai Banks Freeze Millions of Accounts in Scam Crackdown, Innocent Customers Caught in Dragnet

Quick Breakdown 

• Around three million Thai bank accounts have been frozen in a nationwide crackdown on scam “mule accounts.”
• Innocent vendors, small businesses, and expatriates report being locked out of funds without warning.
• The Bank of Thailand is in talks to revise account-freezing measures amid growing public backlash..

Innocent users impacted in nationwide account freezes

Thailand’s sweeping crackdown on scam “mule accounts” has sparked public outrage after reports surfaced that innocent people and small businesses have been locked out of their bank accounts.

The Bank of Thailand just froze 3 million bank accounts overnight & capped transfers at $1.3k–$5.5k/day to fight scams.

You can’t freeze bitcoin. pic.twitter.com/J4PzTyd6CC

— Sasha Hodder (@sashahodler) September 14, 2025

Since August, commercial banks across the Kingdom have reportedly frozen around three million accounts and enforced a nationwide daily transfer limit of 50,000 baht ($1,570). While intended to curb a surge in online scams, the measures have left genuine online vendors, merchants, and expatriates struggling to access their funds.

The Cyber Crime Investigation Bureau (CCIB) confirmed on Sunday that scammers have adopted new laundering tactics, which has led to legitimate accounts being mistakenly flagged.

Authorities urge calm, but foreigners complain of arbitrary freezes

The Bank of Thailand (BoT) has warned that more account freezes may occur as investigations deepen. Digital Economy and Society Ministry secretary Wisit Wisitsora-at urged citizens not to panic, assuring that most suspensions are temporary and lifted once checks clear.

Commercial banks are permitted to freeze accounts for up to three days, while police can extend suspensions to seven days. Despite this, frustration is growing among expatriates, who say accounts have been arbitrarily frozen for weeks without explanation. Many are now required to re-register biometrics in person and undergo strict Know Your Customer (KYC) checks to continue using mobile banking services.

Bitcoin advocates highlight crypto as an alternative

The crisis has fueled discussions around Bitcoin as a potential financial alternative. “Thank you, BoT, for the free Bitcoin marketing,” commented investor Daniel Batten, while Jimmy Kostro from the Thailand Bitcoin Learning Centre called the debanking spree “an international story.”

Still, Thai residents face legal hurdles: while trading digital assets is permitted , the use of cryptocurrencies as a payment method remains banned under central bank rules.

Central ank in talks for softer measures

The BoT is now in discussions with the CCIB on refining the freezing process and easing restrictions for law-abiding account holders. Some merchants have already halted QR code payments out of fear of account suspensions, while customers have rushed to withdraw funds.

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