On February 1, 2025, Deputy Government Spokesperson Karom Polpornklang declared that the government is enhancing security through a “Mobile Banking Cleanup” initiative aimed at eliminating mule accounts involved in financial crimes.
With the new regulations, the name on mobile banking accounts must align with the owner of the registered SIM card. Banks will alert users if any discrepancies arise, and those affected must confirm their identity at mobile service centers by April 30, 2025. If they fail to comply, users risk being locked out of their mobile banking and possibly their entire account, according to bank warnings.
In late 2024, a prior cleanup initiative evaluated more than 120 million phone numbers, sorting them into three distinct categories:
- M (Matching): 75.8 million numbers (63.02%) with corresponding names.
- N (Non-Matching): 30.9 million numbers (25.68%) need updates, primarily for foreign users or those with incorrect details.
- P (Pending Verification): 13.5 million numbers (11.29%) lack complete SIM ownership records.
From February 1st to 28th, users in groups N and P will get in-app notifications from their banks. If they do not update their details within 90 days, they may face a temporary suspension of their mobile banking services.
Some exceptions exist, such as government agencies, corporate accounts, and individuals bound by legal restrictions. The government encourages users to verify their status via banking applications and adhere to the verification procedure. If users do not receive any notifications, mobile banking services continue to operate normally.
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