Thai Central Bank Imposes Daily Transfer Limit of $1400 to Combat Fraudulent Transactions

The Bank of Thailand (BoT) has introduced new regulations aimed at enhancing the nation's digital financial ecosystem, effective from August 8, 2025. These measures are designed to protect customers, prevent fraud, and align with international best practices.

Under the new regulations, financial institutions, e-payment providers, digital asset firms, telecom operators, and social media platforms will share accountability for maintaining a secure digital financial environment. Banks, in particular, will follow stricter Know Your Customer (KYC) protocols when onboarding customers, in line with guidelines from the BoT and the Anti-Money Laundering Office.

One of the key principles guiding these regulations is risk management. Financial institutions are expected to suspend transactions in real time when necessary and block suspicious funds to minimise potential risks. Mule account holders are prohibited from opening new accounts, and around-the-clock fraud-reporting channels are established to ensure swift action against any suspicious activity.

To further enhance public awareness, financial institutions are required to provide free transfer notifications to customers. This will help customers stay informed about their transactions and potential fraudulent activities.

The regulations also aim to address systemic vulnerabilities by subjecting high-risk account holders to enhanced due diligence. Emergency assistance for customers exceeding transfer caps is available to provide additional support.

The framework introduces new measures such as real-time withdrawal alerts, advanced biometric authentication, and controls designed to limit exposure to suspicious applications. Tightened mobile banking protections include the banning of suspicious links, restrictions on multi-device usage, the deployment of facial recognition with biometric forgery detection, and automatic blocking of high-risk applications.

Joint liability for damages arising from technology-related crimes is imposed on these entities, unless compliance with regulatory standards can be demonstrated. This initiative reinforces a commitment to rapid response and customer trust.

The new regulations will also apply to banks and e-money providers regulated by the BoT, particularly concerning the TouristDigiPay scheme for foreign tourists converting digital assets into Thai baht. This move is expected to further strengthen Thailand's position as a digital tourism hub.

In conclusion, the new regulations mark a significant step towards a more secure and transparent digital financial ecosystem in Thailand. By adhering to these principles, the nation aims to foster trust, promote financial inclusion, and maintain a robust digital economy.

Thai Central Bank Imposes Daily Transfer Limit of $1400 to Combat Fraudulent Transactions