BOT, TCSD and banks hold urgent talks Sunday to ease account freeze measures
The Bank of Thailand is holding urgent talks with the TCSD and commercial banks to ease account freezes linked to mule accounts, aiming to protect innocent citizens and simplify suspension procedures.
Daranee Saeju, assistant governor for payment systems oversight and financial consumer protection at the Bank of Thailand (BOT), clarified that in cases of account freezes linked to so-called “mule accounts”, only those accounts found to be in the money trail receiving transfers from mule accounts are affected.
She noted that the Technology Crime Prevention and Suppression Center (TCSD) and commercial banks have stepped up efforts against mule accounts by widening the scope of money-trail tracking. The aim is to freeze funds connected to fraudulent accounts and return them to victims.
However, this broader approach has resulted in more accounts being temporarily suspended, affecting a larger number of citizens.
Amid growing public concern, the BOT has held discussions with the CCIB and commercial banks, reaching a preliminary agreement to accelerate revisions to both the account-freezing process and the procedures for lifting suspensions. These changes aim to ease the impact on law-abiding account holders.
A joint meeting is scheduled for Sunday (September 14), after which the new measures will be implemented immediately.
For innocent account holders affected by recent suspensions, the BOT advised contacting the AOC Centre on 1441 (extension 2) to request removal of restrictions.
