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Thailand: Ministry and Banks Collaborate Against Misinformation and Fraud

Chaiwut Thanakamanusorn, Minister of Digital Economy and Society (DES) and 16 banks signed a Memorandum of Cooperation which intends to integrate online fraud awareness services and enhance the public’s access to information regarding online fraud and fake news.

The collaboration among the banks and relevant authorities seeks to strengthen public resilience against misleading information and promote the dissemination of accurate news through various banking applications. This joint effort serves as an additional measure to raise awareness about online scams, prevent fraud, and combat fake news.

Chaiwut emphasised that the signing of the memorandum is an extension of the ongoing operation for preventing online crimes. The Ministry of Digital Affairs previously piloted a memorandum of understanding with Krungthai Bank, a state-owned entity, utilising the wallet application with over 40 million users as a channel for online warnings.

By connecting information from the Anti-Fake News Centre (AFNC) database, operated by the Ministry of Digital Affairs, to various banking applications, the public can receive fraud alerts related to financial scams and fake news, enabling them to stay informed and updated on various situations.

The Memorandum of Cooperation signified the collaborative efforts of the Ministry of Digital Affairs, the Bank of Thailand, the industries association, and the 16 participating banks in combating online crimes. It complements the measures outlined in the Royal Decree on Measures for the Prevention and Suppression of Technology Crimes B.E.

The measures included guidelines for banks to refrain from sending links via SMS and email, mandatory notifications on mobile banking before each transaction, and the blocking of SMS and call centre numbers by the NBTC and telephone service providers. The Anti-Money Laundering Office (AMLO) has also provided a list of individuals with high-risk behaviour or those under monitoring for horse account cases (code HR-03) through a monitoring system implemented by the banks.

Expressing gratitude for the banks’ cooperation, Chaiwut stated that the dissemination of online scam alerts will contribute to reducing the losses incurred by individuals who fall victim to scammers using social media as a deceptive tool. He emphasised the importance of leveraging modern technology to enhance the efficiency of utilising digital information, foster economic confidence-building mechanisms, and sustainably maintain security and safety in people’s lives and property.

Scammers, bogus news, and cybercrime involving money are major issues of concern in Thailand. A warning channel for online scams and dis-/misinformation, “Pao Tang” app, is intended as a public education and alarm system for potential victims of internet fraud on the part of the government. Information from the Anti-Fake News Centre (AFNC) databases at the Ministry of Digital Affairs linked to service providers in this system.

The wallet software provided alerts against various types of financial fraud and inaccurate information. With the help of the app, individuals can better protect themselves from harm and overall losses can be cut down.

To further protect its citizens from online and phone scams, Thailand has implemented the Technology Crime Prevention and Suppression Decree B.E. The Bank of Thailand and the Thai Bankers’ Association have created a centralised system that allows for the automated interception of suspicious transactions after a victim reports them.

When a victim reports a suspicious transaction to the authorities, an automated method can immediately stop the transaction. Victims should call their bank to have any suspicious transactions frozen. They can also use the online notification system to report their cases to detectives within 72 hours. After being notified, the investigation will be completed by the appropriate authorities within seven days.


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