Survey Finds Thai Banks Face Rising Fraud, Mule-Account and Instant-Payment Risks

Summary

A BioCatch-commissioned survey of 100 Thai banking leaders found rising fraud concerns, operational strain, and difficulty identifying mule accounts across banks. Respondents also flagged instant payments as a significant fraud risk.

Key points

• The anonymous survey covered 100 Thai banking leaders and was conducted from Dec. 15, 2025, to Jan. 6, 2026; it was part of a series surveying 1,200 leaders across 12 geographies.
• 63% of Thai respondents said fraud attempts at their organization were increasing, 52% reported rising losses, and 80% estimated annual fraud losses above $5 million.
• 39% did not consider their current fraud controls effective; 71% reported false-positive rates above 40%, and 24% said cases were fully investigated within one day.
• 87% said identifying mule accounts reused across institutions was a significant operational challenge; the report points to cross-bank intelligence sharing as important to disrupting these networks.
• 92% viewed instant payments as a moderate or very high fraud risk, citing compressed detection windows and the speed at which funds can move through mule accounts.
• 76% said their bank was using or evaluating behavioral solutions, while 97% felt prepared for Bank of Thailand expectations on authentication, mule prevention, and PromptPay security.

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