Bangkok: The Bank of Thailand has intensified its regulations on money transfers to accounts held by minors, in response to fraudulent schemes exploiting these accounts as "muddle accounts."
According to Thai News Agency, the initiative seeks to address a growing concern where criminal organizations have been leveraging juvenile bank accounts for illicit activities. Ms. Chayawadee Chaiyanan, Assistant Governor for Corporate Relations and Spokesperson of the Bank of Thailand, highlighted that coordinated efforts with law enforcement have uncovered a rise in the use of minor-owned bank accounts as "mock accounts." This trend potentially implicates minors in fraudulent schemes, constituting offenses under the Technology Crime Prevention and Suppression Act B.E. 2566 (2023).
The Bank of Thailand, in partnership with the Thai Bankers Association and e-Money businesses, has revised daily transfer and payment limits through digital channels to align with customer usage profiles. New standard limits have been set for minors to mitigate the risk of account exploitation. The adjusted limits, reflecting actual usage data, are 3,000 baht per day for ages 10-12, 5,000 baht for ages 12-15, and 10,000 baht for ages 15-18.
To ensure minimal disruption for legitimate customers, banks and e-money providers must inform customers before credit limit adjustments and offer accessible contact options, such as mobile apps and call centers, for those seeking increased limits. The phased implementation of these adjustments is scheduled for completion by September and October 2026.
The Bank of Thailand's enhanced measures aim to shield young account holders from being inadvertently involved in financial crime. Parents are encouraged to educate their children about the legal implications of allowing account misuse. Continuous monitoring and assessment will be conducted to adapt strategies against evolving criminal tactics.