Pol. Lt. Gen. Trirong Phiewpan, the commissioner of the Cyber Crime Investigation Bureau (CCIB), has addressed the public’s requests for Thailand to update its laws to hold banks and mobile network operators accountable for online fraud, similar to Singapore’s approach.
He noted that Thailand is implementing similar measures. Although the structure mirrors that of Singapore, Thailand intends to specify penalties and responsibilities more clearly.
Pol. Lt. Gen. Trirong highlighted that Thailand already possesses various laws to tackle online fraud akin to those in Singapore, except in the aspect of holding banks and telecom operators jointly accountable.
The Emergency Ordinance on Measures to Prevent and Combat Technological Crimes in Thailand outlines the duties of banks and telecom operators but lacks specific penalties.
The Central Bank of Thailand and the National Broadcasting and Telecommunications Commission (NBTC) have the authority to enforce additional rules, while the Ministry of Digital Economy and Society is drafting an amendment to the Emergency Decree for tougher regulations.
He elaborated that Thailand has established 19 criteria to detect suspicious activities in financial accounts and phone usage.
These criteria include accounts with numerous small transactions followed by a significant withdrawal and accounts with high-frequency transfers over a brief period.
At a recent committee meeting, financial institutions proposed a new criterion, and the police recommended one related to suspicious cryptocurrency activities. These suggestions are currently under review by the financial institutions.
“Financial institutions and banks will use their authority under Section 6 of the Emergency Decree on Measures to Prevent and Combat Technological Crimes to suspend transactions for seven days to conduct further investigations,” said Pol. Lt. Gen. Trirong Phiewpan.
He added, “This is similar to the measures taken in Singapore.”
He referred to instances where courts have mandated financial institutions to reimburse victims of call center and online scams. Courts evaluate compliance with the 19 stipulated measures, and failure to adhere can result in liabilities for damages.
Although existing laws mandate civil liabilities, implementing criminal penalties similar to those in Singapore would necessitate new directives from either the Bank of Thailand or the NBTC.
The Ministry of Digital Economy and Society, along with other agencies, are also enhancing the Emergency Decree to incorporate measures such as:
– Joint liability of banks and telecom operators for financial losses when fraud occurs due to non-compliance,
– Guidelines for reimbursement,
– Harsher penalties.
These amendments aim to seal the gaps exploited by criminals in the banking and telecommunication sectors, with support from both industries.
Starting January 1, 2025, a new rule will mandate that SMS messages with registration links include a sender identifier, and messages from unverifiable senders will be blocked by telecommunications providers.
