The Bank of Thailand (BoT) will require banks to cap daily digital transfers at 50,000 baht for individual customers as part of new anti-fraud measures.

The cap, tailored to each customer’s transaction profile, is meant to slow criminals from moving stolen funds and reduce losses, especially for children and the elderly.

The decree also makes financial institutions, e-payment operators, digital asset firms, telecom providers and social media platforms jointly liable for damages from technology crimes unless they can prove compliance with regulatory standards.

Effective 8 August 2025, the new rules build on five principles: targeting specific risks, having clear procedures, aligning with Thailand’s context and international standards, and raising public awareness.

They extend earlier efforts against mule accounts and add measures such as real-time withdrawal notifications.

Mobile banking protections will be tightened through bans on suspicious links, limits on device use, facial recognition with biometric forgery detection, and blocking apps that run alongside risky applications.

Banks must also follow stricter Know Your Customer rules when opening deposit accounts, in line with BoT and Anti-Money Laundering Office guidelines.

High-risk customers, classified as Black, Dark Grey and Light Grey account holders, will be subject to enhanced due diligence.

Financial institutions are required to notify customers of transfers at no cost, block suspicious funds, suspend transactions, bar mule account holders from opening new accounts, and provide rapid fraud-reporting channels at all times.

Banks must also offer emergency support for customers who need to exceed the transfer cap.

The rules will apply to new mobile and internet banking users by the end of August 2025 and to existing customers by year-end.

The BoT said the measures are aimed at strengthening fraud prevention, reducing losses and improving the recovery of stolen funds.

Featured image: Edited by Fintech News Singapore, based on image by Freepik