New Technological Crime Law on Obligations of Commercial Bank and Online Payment Platform Providers to Proceed with Questionable Transactions

Due to the increasing number of telephone and online scams, the Government has issued a new law to combat such crimes as well as related money-laundering activities, namely, the Emergency Decree on Measures for Prevention and Suppression of Technological Crimes B.E. 2566 (2023) ("Technological Crime Decree"), which became effective on 17 March 2023. 

The key legal implications under the Technological Crime Decree may be summarised as follows:

1. Information Sharing. Banks, payment providers, telecommunications companies, and other service providers must share information about accounts and transactions that may be connected to the commission of a technological crime through the information sharing system approved by relevant authorities. Such operators are also required to share the information with the Royal Thai Police, the Department of Special Investigation (DSI), and the Anti-Money Laundering Office ("AMLO").


2. Transaction Freezing. Upon request of the victim (who is the account holder), banks and payment providers are required to temporarily freeze illicit transactions, where the victim shall file a complaint to the police within 72 hours. Once the complaint is filed, the police will notify the bank/payment provider to continue freezing the account, and the police will complete the initial investigation within seven days.
   
   If the bank/payment provider finds that there is suspicious illicit activity, whether by their own effort or from the information sharing system, the bank/payment provider shall notify the police/Secretary of AMLO immediately, and temporarily freeze illicit transactions for a maximum period of seven days. The authority will complete the initial investigation within seven days.


3. Reporting Channels. Illicit transactions may be reported to the bank/payment provider via telephone or electronic means.
   
   Complaints involving a technological crime may be filed with any police station in Thailand without a need to identify the place in which the crime is committed, or filed via electronic means.


4. Mule Accounts. Allowing someone else to use your bank account, electronic card, e-money account, or phone number for a criminal activity is punishable with an offence of up to three years’ imprisonment and/or a fine of up to THB 300,000 fine.
   
   Facilitating or advertising for the creation of a mule account involves penalties ranging from two to five years’ imprisonment and a fine of THB 200,000 to 500,00.