Bangkok: The Senate Economic Committee has outlined five strategic recommendations aimed at tackling the rising issue of border traders becoming victims of criminal activities, specifically urging collaboration between the Bank of Thailand, the Thai Bankers’ Association, and the Royal Thai Police to establish a central mechanism for victim support.
According to Thai News Agency, Senator Pongsak Kerdwongbandit, Vice Chairman of the Senate Committee on Economic, Financial, and Fiscal Affairs, emphasized the challenges faced by border traders due to the freezing of their bank accounts. He pointed out that the current financial transaction supervision system is inadequate, which has resulted in fraudulent activities affecting more than 10 prominent Thai companies.
Mr. Phongsak highlighted that numerous border trade operators have complained about the difficulties encountered while selling consumer goods to buyers in Laos and Vietnam. The process typically involves completing purchase orders through customs and receiving payments via mobile applications. However, the operators face issues related to document verification, Thai baht shortages in neighboring countries, and interbank transfers. Consequently, many buyers resort to using “Poykwan” (unlicensed money exchanges) for their transactions, which inadvertently exposes them to fraud. This has led to the freezing of accounts under Section 7 of the Technology Crime Prevention Act B.E. 2568 (2025), often without notifying the account holders.
The senator further explained that while informal transfer channels might not be intentionally illicit, they create opportunities for fraudsters and cybercriminals. Despite victims presenting complete evidence, the police are unable to return funds due to the clear financial trails left by fraudulent activities. The committee considers this a systemic issue necessitating a comprehensive solution.
To address these concerns, the committee proposed several measures for relief. Firstly, it suggested that business owners promptly provide clarification to investigators, supported by trade documents and export evidence, to facilitate the release of frozen accounts if their business practices are proven legitimate. Business owners are also encouraged to report themselves as victims, consolidating cases to a single jurisdiction for better coordination. The committee also recommended freezing only the disputed amounts rather than entire accounts and urged collaboration between central agencies and police to expedite account release when evidence supports the businesses as co-victims.
Mr. Phongsak stressed the importance of verifying the source of funds to prevent future incidents. Businesses should obtain details of authorized payment accounts from trading partners and maintain relationships with trusted partners only. Transitioning to transparent business models and immediate notification of account suspensions by banks were also suggested to mitigate risks. The committee called for a centralized mechanism to ensure coordinated legal action and reduce the operational burden on businesses, alongside continuous education for border traders to prevent them from falling prey to fraud.