Bangkok Bank, a major commercial bank in Thailand, has begun mass blocking of accounts of Russian citizens, leaving thousands of immigrants and tourists without banking services. The financial institution, which serves more than 17 million customers, was the only bank in the kingdom that provided an account to foreigners without long-term visas.
The scale of the problem and the categories of victims
Since May 25, 2025, many Russians have stopped using Bangkok Bank’s bank cards and applications. Customers flooded the branches of the financial institution, trying to understand the reasons for the restrictions. As the victims say, the bank offers the only option – to withdraw savings and permanently close the account.
Exceptions are persons who:
- Have a spouse of a Thai citizen;
- Property owners in the kingdom;
- We have received long-term visas (working, investment, pension).
Reasons for the tightening of banking policy
The blocking of accounts is associated with the disclosure of a large-scale money laundering scheme. On May 21, Thai authorities arrested 4 bank employees in Pattaya who illegally opened accounts for foreigners staying in the country as tourists. More than 2.2 billion baht (about $60 million) passed through these accounts, most of which were immediately withdrawn.
As Narit Suksevi, a former senior legal officer at Bangkok Bank, explained, the arrested employees opened accounts for Chinese tourists for money, which were then used by fraudulent call centers to place and launder criminal proceeds.
A person coming to Thailand on a tourist visa is not allowed to open any account. Any opening of an account by a foreigner without a long-term visa is a criminal offense.
General tightening of banking regulation
Bangkok Bank’s actions fit into the general campaign of the Thai authorities against “mule accounts”. In February 2025, the Bank of Thailand froze 1.8 million suspicious bank accounts, and the Anti-Money Laundering Authority arrested 2,500 holders of such accounts over the past year.
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Journalist, editor with 9 years of experience in investment immigration. I specialize in analysis of residency and tax programs, as well as individual selection of jurisdictions for relocation.
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