BANGKOK — The Bank of Thailand has rolled out new risk-based transfer limits for mobile banking users, imposing a daily cap of 50,000 baht for vulnerable groups — including minors and the elderly — in a bid to tackle an alarming rise in financial fraud.

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The measure, which took immediate effect for new applicants and will apply to all users by year-end, classifies customers into three risk categories: suspected fraudsters, general users, and vulnerable clients (aged under 15 or over 65). Daily transfer limits are tiered as follows: under 50,000 baht (S), under 200,000 baht (M), and above 200,000 baht (L).

Assistant Governor Daranee Saeju, who leads payment systems policy and consumer protection, emphasized that individual banks will determine limits based on know-your-customer (KYC) protocols and transaction behavior. “Regular users with strong financial records will see little change, but new or inactive clients may start with stricter limits,” she noted.

Bank of Thailand plans to limit daily transfers to 50,000 baht to reduce fraud risks and protect consumers from scams, with new measures in place by 2025. #BankofThailandhttps://t.co/gGvBWCFsm6

— Thenationthailand (@Thenationth) August 19, 2025

The move comes amid a surge in scams — 24,500 cases were reported in June alone, resulting in losses of 2.8 billion baht. Shockingly, victims who transferred over 50,000 baht per transaction accounted for 76% of total losses, despite representing only 22% of cases.

Existing safeguards, including facial recognition for transfers above 50,000 baht and a 200,000-baht daily ceiling, remain in place. Vulnerable users — including 416,453 elderly and 78,468 minor victims in the first half of this year — will receive special attention. Customers may request higher limits, but banks must carefully evaluate such upgrades.

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The central bank warns that scammers often drain funds within minutes, while victims average nearly a day to report fraud. The new system aims to slow criminals’ access to large sums and protect those most at risk.

-Thailand News (TN)