Bangkok: The government has initiated a comprehensive strategy to tackle the issue of "mule accounts" in collaboration with banks and mobile phone companies, setting a deadline of April 30, 2025, for compliance. The initiative mandates that the user name associated with a Mobile Banking account must match the name of the mobile phone owner. In cases where this is not the case, users are urged to urgently rectify the situation.
According to Thai News Agency, Mr. Karom Polpornklang, Deputy Government Spokesperson, announced that the Ministry of Digital Economy and Society is spearheading efforts to enhance security in Mobile Banking services to thwart criminal activities facilitated by mule accounts. The directive requires users to verify their identities at mobile phone service centers by April 30, 2025, if discrepancies exist between the mobile phone and banking account details. Banks will communicate with users via their applications between February 1-28, 2025, to initiate this verification process.
Last year, a policy named "Cleaning Mobile Banking" was implemented to synchronize user data with SIM ownership. This involved a thorough inspection of over 120 million phone numbers, sorted into three categories: Group (M), Group (N), and Group (P). Group M, comprising 75.8 million numbers, has matching SIM owner and Mobile Banking account details. Group N, which includes 30.9 million numbers, consists of users whose SIM and banking details do not match, including foreign accounts opened after 2022. Users in this group must correct their details by April 30, 2025, or face potential suspension of Mobile Banking services.
Group P, with 13.5 million numbers, involves cases where no SIM owner information is available. Affected users are required to update their details by the April deadline to avoid service suspension. Mobile Banking users in Groups N and P will be notified by their respective banks by February 1, 2025, and must update their records within 90 days.
The initiative does allow exceptions for certain individuals and organizations. Government agencies, family members, legal entities, and individuals with specific needs can apply for exemptions by providing necessary documentation to their banks. The government is determined to eliminate mule accounts beginning February 1, 2025, with notifications sent only through the banks' Mobile Banking apps. Users who do not receive notifications will not be affected and can continue using their banking services as usual.