Bangkok: The Bank of Thailand, commercial banks, and police are set to meet urgently today to address the impact of the crackdown on "mule accounts" on the public.
According to Thai News Agency, Ms. Daranee Saeju, Assistant Governor of the Payment Systems Supervision and Financial Consumer Protection Group at the Bank of Thailand (BOT), explained that the seizure of accounts related to mule accounts only affects those within the money trail linked to these accounts. The Technology Crime Suppression Division (TCSD) and commercial banks are enhancing their management of mule accounts by broadening the scope of money trail tracking to seize funds associated with mule accounts and return them to victims. Consequently, the suspension of related accounts could potentially impact a larger number of individuals.
In light of these concerns, the Bank of Thailand (BOT) has engaged in discussions with the Technology Crime Suppression Division (TCSD) and agreed to expedite adjustments to account freezing guidelines and the unfreezing process to reduce the impact on honest citizens. These discussions are scheduled for today, with immediate implementation planned.
For citizens who have been unintentionally affected by these measures in the past, the suspension can be canceled by contacting the AOC Center at 1441 ext. 2. The Ministry of Digital Economy and Society (MDES) has reiterated its measures to prevent online crimes by temporarily suspending suspicious accounts for investigation. This strategy has been effective in blocking illegal funds. In cases where unrelated parties are affected, inquiries regarding the unfreezing process can be made by calling the AOC Center at 1441 and pressing 2.
Efforts are underway by the government, private sector, and banks to crack down on individual and corporate mule accounts to prevent online fraud and call center scams. However, there has been a surge in frozen accounts, affecting both mule and honest accounts, raising concerns due to the lengthy freeze duration. Some merchants have opted not to accept netbank transfers, preferring cash transactions, and others have started withdrawing and storing cash to mitigate the impact of frozen accounts.