The Bank of Thailand and the Thai Bankers' Association have agreed to introduce stricter measures to protect minors from online scammers by limiting the amount they can withdraw or transfer electronically from their bank accounts to between 3,000 and 10,000 baht per day, depending on their age.
Under the new restrictions, which are expected to take effect in September or October, depending on when commercial banks complete the necessary system adjustments, minors aged 10 to 12 with electronic bank accounts will be allowed to withdraw or transfer no more than 3,000 baht per day. Those aged 12 to 15 will be limited to 5,000 baht per day, while those aged 15 to 18 will be allowed a maximum of 10,000 baht per day.
Chayawadee Chai-anant, the central bank's assistant governor for organisational relations and its spokesperson, said scammers have increasingly targeted minors and used their electronic bank accounts as "mule" accounts for money laundering.
She said many minors have already fallen victim to such scams, adding that the new measures are intended to prevent young people from being exploited by cybercriminals.
She added that the central bank recognises the need for convenient banking services and said commercial banks and other financial institutions providing electronic banking services will notify customers in advance of the new restrictions and the applicable daily withdrawal and transfer limits.
