BANGKOK, May 29, 2025 – Bangkok Bank, Thailand’s largest commercial bank, has begun closing accounts held by foreigners, particularly those without long-term visas, as part of a nationwide effort to combat financial fraud. The closures, which started around May 25, target tourists and expats who don’t meet strict new criteria, such as holding a long-term visa, being married to a Thai national, or owning property in Thailand. The bank’s move aims to stop the use of “mule accounts” often linked to money laundering and scams, following a rise in financial crimes. Thai authorities have also uncovered fraud operations involving accounts opened by foreigners on tourist visas, prompting this crackdown. Affected customers, including many Russians, report frozen accounts and blocked cards, leaving them struggling to access funds. Bangkok Bank urges clients to contact branches to resolve issues, but the closures signal a broader push to secure Thailand’s financial system.
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