PATTAYA, Thailand – The Bank of Thailand (BoT) has issued a warning to the public not to believe circulating social media claims that transferring money between your own bank accounts could result in account freezes or legal action.
Chayawadee Chai-anun, Assistant Governor for Corporate Relations and spokesperson for BoT, confirmed that such reports are false and constitute “fake news.” The Bank urges account holders to remain vigilant and not be misled by these online rumors.
However, BoT acknowledged that measures under the Cybersecurity Emergency Decree, which aim to trace suspicious financial flows and protect victims, could sometimes unintentionally affect legitimate account holders. To address this, BoT, in coordination with police and the Technology Crime Suppression Center (TCSD), has revised procedures for unlocking accounts and is improving mechanisms to minimize impacts on innocent users.
Spokesperson Chayawadee added that balancing the need to intercept fraudulent funds with minimizing disruption to honest account holders is essential. “Reducing the number of illicit accounts benefits the financial ecosystem, but we are committed to ensuring that law-abiding individuals are impacted as little as possible,” she said.
