Up to half a million bank accounts could be “mule” accounts opened to facilitate fraud, according to the Anti-Money Laundering Office (Amlo), which is introducing measures to curb the problem.
Starting next month, it said, people who make cash deposits via ATMs will be required to verify their identities to allow more effective tracing of transactions.
Amlo estimates that mule accounts could number between 200,000 and 500,000 out of 121 million currently in use nationwide, Amlo spokesman Witthaya Nititham said on Thursday.
Amlo officials, along with the police Cyber Crime Investigation Bureau, are sifting through accounts they suspect may have been registered by proxies for scam gangs.
So far, he said, the agencies have identified more than 10,000 people who have opened over 70,000 mule accounts.
Identification was made possible by police investigations into fraud cases in which victims’ money transfers were traced.
The account details were forwarded to the respective commercial banks, which immediately froze them.
Mr Witthaya said Amlo has been gathering more information about proxy accounts and found they are increasing at a rate of about 1,000 a week.
Starting from Nov 11, people who deposit cash via ATMs must furnish proof of identity. For every machine deposit of up to 30,000 baht, the depositor must key in their citizenship ID number along with their mobile phone number. The depositor will then receive a one-time password (OTP) from the bank before proceeding with the transaction.
For a machine deposit of 30,000 to 100,000 baht, the depositor must provide details of their ATM, debit card or credit card along with their personal identification number (PIN).
Over the past 12 months, Mr Witthaya said, Amlo has seized and frozen more than 9.4 billion baht worth of assets in fraud and online gambling cases. Most cases have been finalised in court with assets valued at 8.8 billion baht claimed by the state.