New regulations are set to cap daily digital money transfers and payments for individuals under 18, a move designed to curb the growing exploitation of young people’s accounts by criminal networks for illicit financial activities. The central bank, in collaboration with financial institutions and e-money service providers, is implementing these measures to mitigate fraud and protect vulnerable youth.
Understanding the Problem: Exploitation of Youth Accounts
Intelligence gathered in conjunction with law enforcement agencies revealed a significant trend: criminal organizations have increasingly targeted deposit and e-money accounts held by minors. These accounts are being used as conduits for financial crimes, often without the full awareness of the young account holders. Chayawadee Chai-anant, assistant governor for corporate relations at the central bank, explained that many young individuals become involved unintentionally. This can happen by simply opening an account or by allowing others to use their existing accounts. Such actions, regardless of intent, can constitute a criminal offense under the Emergency Decree on Measures for the Prevention and Suppression of Technology Crimes.
The scale of the issue is underscored by recent data. The number of youth-owned deposit and e-money accounts linked to criminal activity saw a substantial increase, rising from 3,371 in January 2025 to 5,741 accounts by March of the current year. This represents a 70.3% surge. These accounts were implicated in cases involving total financial losses amounting to 185 million baht, highlighting the significant economic impact of this exploitation.
New Standardized Daily Limits Introduced
To address this escalating threat, the central bank has collaborated with the Thai Bankers’ Association and various e-money service providers. The outcome of this partnership is the introduction of standardized daily transfer and payment limits. These limits are based on customer profiling, aiming to align with typical usage patterns for different age groups while simultaneously reducing the risk of these accounts being misused for criminal purposes.
Specific Daily Limits for Minors:
- Children aged 10-12: Transfers or payments from e-money accounts will be capped at 3,000 baht per day.
- Youth aged 12-15: Digital channel transactions for bank deposit accounts will be limited to 5,000 baht per day.
- Youth aged 15-18: Digital channel transactions for bank deposit accounts will be capped at 10,000 baht per day.
Implementation and Customer Notification
Recognizing the need to minimize disruption for legitimate users, the new regulations include provisions for customer notification and recourse. Commercial banks and e-money operators are mandated to inform their customers about the upcoming adjustments to their account limits. Furthermore, they must provide accessible channels for customers who require higher limits for legitimate reasons. These channels will include mobile applications, dedicated call centres, and physical branch locations, ensuring that users can easily request and potentially obtain increased transaction limits if their circumstances warrant it.
The timeline for implementation is staggered. Banks are required to adopt these new limits by September. E-money providers, on the other hand, have until October to fully comply with the new regulations. This phased approach allows financial institutions adequate time to update their systems and processes.
Central Bank’s Objectives and Parental Guidance
The central bank’s overarching goal with these strengthened measures is twofold: to prevent children and teenagers from becoming victims of financial scams and to deter them from being coerced into providing their accounts for use by criminals. By establishing these limits, the authorities aim to make it more difficult for illicit actors to leverage the financial infrastructure through minors.
Beyond regulatory measures, the central bank is also emphasizing the importance of parental involvement. Parents and guardians are strongly urged to educate their children about the legal implications of opening an account for another person or allowing someone else to use their account. Understanding that such actions are illegal and carry potential consequences is crucial for preventing unintentional complicity in financial crimes.
Ongoing Monitoring and Adaptation
Ms. Chai-anant affirmed that the central bank will maintain a vigilant stance, continuously monitoring developments in the digital financial landscape. The institution is prepared to adapt its measures as criminal groups evolve their tactics. This commitment to ongoing oversight ensures that the regulatory framework remains effective in combating evolving technological crimes and protecting the integrity of the financial system.
The introduction of these daily transfer and payment caps represents a proactive step by the financial authorities to safeguard young individuals and disrupt the operations of criminal networks that prey on them. The success of these measures will depend on effective implementation by financial institutions, clear communication with customers, and increased awareness among parents and youth about the risks associated with digital financial activities.
