Crackdown on financial crimes suspends 34,000 bank accounts
The Thai Bankers Association (TBA) announced a significant crackdown on financial crimes, blacklisting 15,000 individuals and suspending 34,000 bank accounts linked to call centre scams.
TBA Chairman Payong Srivanich revealed today, September 2, that the association’s new AI-driven system, the Cross-Reference File (CRF), uncovered over 15,000 people involved in money laundering schemes. This system, which has been analysing data from commercial banks over the past nine months, began operating last month and is expected to lead to further suspensions of suspected mule accounts.
The CRF system integrates information from various commercial banks and the Anti-Money Laundering Office, enabling a comprehensive effort to identify and address fraudulent activities. Payong stated that this system will help banks detect and act against suspected mule accounts more effectively.
Deputy Governor of the Bank of Thailand, Ronadol Numnonda, praised the compliance of commercial banks with the central bank’s enhanced anti-fraud measures. Since the CRF system’s launch on August 1, banks have been actively sharing information to combat online fraud, focusing on individuals rather than just bank accounts.
Ronadol highlighted that the CRF system allows for swift identification and blocking of individuals suspected of using mule accounts, preventing them from conducting transactions or opening new accounts. He also noted that individuals on the blacklist must meet with officials from the Anti-Online Scam Operation Centre to resolve their status before any bank accounts can be unfrozen.
The TBA’s actions mark a significant step in the fight against online financial crimes, underscoring a growing commitment to safeguarding the financial system from fraudulent activities, reported The Nation.
In related news, a notorious call centre scam operation has been dismantled by Thai police, leading to severe prison sentences for those involved. The criminal court handed a 20-year prison sentence to 14 members of the gang for deceiving a former doctor in Chumphon province, causing financial losses of 101 million baht. Additionally, those who provided mule accounts to the gang received nine-year prison sentences.
