Russian bank accounts faced blockage, according to TASS reports.
Bangkok Bank has initiated new security measures that are causing issues for some Russian clients, according to recent reports. Affected individuals have been invited to their branch offices with documents and notified that their cards have been blocked.
One client explained that she received her card 1.5 years ago through intermediaries while in the country on a visa exemption stamp. She believes her account will now be closed, and her funds distributed. However, the bank has stated that not all Russian clients' cards are affected, and some are still functioning.
Another client residing in Pattaya suspects the block may be due to a filter they are unaware of, or that their turn hasn't come yet.
The agency reported that these measures are not widespread but are part of Thailand's efforts to prevent financial scams and money laundering. According to Andrei Snetkov, the Southeast Asian representative of the Russian tour operator Tez Tour, tourists on a visa exemption cannot open accounts in local banks. He warned that any account opening by a foreigner without a long-term visa is a criminal offense.
Thailand has been enforcing stricter rules for foreigners opening and maintaining accounts, including requiring personal bank accounts to be linked to a valid SIM or mobile number registered in the account holder's name. The bank is also freezing accounts held by foreigners without long-term visas.
The crackdown follows recent arrests of bank staff accused of helping crime syndicates launder illicit funds. A large scheme involving phone scams and illegal transfers also prompted stricter controls.
Around 40,000 to 50,000 Russian citizens reside permanently in Thailand, though not all are affected by the bank's actions. The Russian embassy has been notified and is monitoring the situation. TASS sent a request for comment to the Thai bank regarding the reasons for blocking Russian citizens' accounts.
- The stricter financial rules enforced in Thailand by banks like Bangkok Bank, aimed at preventing financial scams and money laundering, are affecting some Russian clients who have been using intermediaries to open accounts while in the country on a visa exemption stamp.
- As part of Thailand's general-news landscape, the Russian embassy is monitoring the ongoing issue of some Russian clients' accounts being blocked by banks due to enhanced security measures, potentially due to unclear filters or not yet being processed.
