Thailand's Massive Freeze on Chinese Accounts: Anti-Money Laundering Measures or Discrimination?

Recently, several Chinese on social media platforms in Thailand reported that their bank accounts were suddenly frozen without any prior notification, causing widespread concern. Despite these account holders possessing legal visas and opening accounts through official channels, they were not spared.

A Chinese blogger living in Bangkok mentioned that his Bangkok bank account was completely sealed simply because he returned to China for a short period and re-entered Thailand. He holds a legal NON-O marriage visa, opened his account at an official branch in the Rama 9 shopping mall without using any intermediaries, and has no record of violations. However, the bank customer service informed him that now, apart from work and business visas, accounts under other types of visas might also be subjected to risk control scrutiny or even suspension, especially those belonging to groups with marriage, accompanying study, and retirement visas, who have become key subjects of review.

The blogger tried to request the unlocking of his account via phone, but after entering the wrong password three times, his account was completely locked. He could only go to the bank where he opened his account in person with his passport and passbook.

Similar incidents continue to emerge: Chinese students' bank cards being frozen, preventing them from paying tuition fees; a Chinese owner of a guesthouse in Chiang Mai found his account suddenly stopped, paralyzing his daily operations; and even elderly people facing difficulties in withdrawing their pensions for living expenses. Bangkok Bank, Kasikorn Bank, and SCB Bank have been repeatedly named for having a concentrated phenomenon of freezing foreign accounts, with staff often giving vague reasons such as "system risk control and manual review."

Analysts believe that this round of risk control may be related to Thailand's recent efforts to combat cross-border money laundering and regulate the gray market. However, whether there is a "one-size-fits-all" approach or targeting specific groups during the implementation process is something to be cautious about.

Those affected generally call for distinguishing between legal and illegal activities and oppose the excessive scrutiny approach of "better to wrongly seal a thousand." Currently, there is no official explanation from the Thai government regarding the large-scale blocking of foreign accounts, but work visas seem to be becoming the only "safe option" for opening accounts in the future.