Thai Banks Lock Accounts as Scam Fight Sweeps the Nation

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 15, 2025

Key Takeaways

Thai banks have frozen around 3 million accounts since August to combat scams, but many innocent customers have been affected;
Small business owners and sellers are facing delays and disruptions as stricter rules and daily transfer caps apply to all users;
Rising account freezes have sparked interest in Bitcoin, though crypto use for payments remains banned in Thailand.

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Bank customers in Thailand are discovering that their accounts have been frozen, part of a government effort to disrupt financial fraud.

The operation, which began in August, has led to the freezing of approximately three million accounts. These actions target accounts suspected of being used by scammers to move stolen funds, but many people with no connection to such crimes have also been affected.

According to the Cyber Crime Investigation Bureau, recent tactics used by scammers have made it harder for authorities to identify fraudulent accounts.

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As a result, some small business owners and online sellers have seen their access to funds restricted. This has led to delays in payments, limited transactions, and disruption to daily business activities.

To stop the flow of criminal money, banks have also introduced a daily transfer limit of 50,000 baht (roughly $1,570). These restrictions apply to all customers, not just those under investigation.

The Bank of Thailand has warned that more freezes may be necessary as investigations expand. However, according to the Ministry of Digital Economy and Society, banks can suspend funds for up to three days, and police may extend this to seven while checks are carried out.

The situation has sparked renewed interest in digital currencies, such as Bitcoin BTC $114,862.61 . Investor Daniel Batten and Bitcoin advocate Jimmy Kostro have pointed to the crackdown as a reason to consider alternatives to traditional banking.

Meanwhile, Evgeny Masharov, a member of Russia’s Civic Chamber, recently proposed launching a crypto-based financial institution. What did he say? Read the full story.