Innocent people and businesses have been reported caught in Crossfire while Thai banks froze with millions of accounts suspected of “mules” for scammers over the weekend.
The whole country started cacking in August, and weekend reports suggest that banks have frozen three million accounts and imposed sun -day -to -day lifts to all bank customers in the kingdom, According to In the reports.
However, the Cyber Crime Investigation Bureau (CCIB) reported on Sunday that bank accounts of innocent online vendors and merchants were also frozen after scammers had been adopting new methods to steal money, According to In the post of Bangkok.
Meanwhile, the bank of Thailand warned That more people can deal with freeze as authorities expand the dragnet and investigate Mule accounts.
“We encourage the public not to be papanic. The suspension is only temporary and raised once the checks are confirmed that there is nothing wrong with it,” Says Digital Economy and Society Ministry Secretary Wisit Wisitsora-on Monday, added that commercial banks can suspend suspected funds for up to three days, while police can extend the suspension for seven days.
The Bank of Thailand just frozen 3 million bank accounts overnight and turned -up to a $ 1.3k- $ 5.5k/day to fight the scams.
You can’t let bitcoin. pic.twitter.com/j4pztyd6cc
– Sasha Hodder (@sashahodler) September 14, 2025
Affects Chinese Call centersIt is often based on neighboring countries, targeting Thailand this year with online scams, which attract victims with social engineering attacks.
Earlier this month, Thai police launched a full-time joint operation in Japan and India, as part of the ongoing efforts to abolish call center syndicates.
Foreigners’ target
Expatriates living in the country were taken on social media and online drug forums complain About being Debanked or locked in banking services in the country recently.
Many have seen their accounts on specific banks that are accidentally frozen or restrained for weeks without explanation. Foreign residents need to register their biometrics with their local bank in person and follow your customer’s methods to make a bigger transaction with mobile apps.
Bitcoin can be the answer
“Thanks, Bot, for the free marketing of Bitcoin,” Says Crypto and technology investor Daniel Batten in response to the news.
“This should be a international story. Thank God for Bitcoin,” Says Jimmy Kostro from Thailand Bitcoin Learning Center.
Related: US banks moved $ 312B to dirty money, but critics still blame crypto
However, the affected residents of Thai may have problems under current laws. While Bitcoin and Crypto trade Stay popular in Thailand, Central Bank banned the use of digital currencies for payment.
Thai Central Bank in talks for workaround
Limits of 50,000 Baht ($ 1,570) are Pinapawa In August of all banks across the country in response to a call center fraud wave with scammers using mule accounts in Launder money.
Some merchants temporarily stop receiving QR payments while account holders are Reported Removal of Funds in fear of potential forfreeze.
In the midst of growing public concern, the Thai Central Bank conducted CCIB discussions in a workaround for the freezing process of the account and transferring limitations for account holders to comply with the law.
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