The Thai Bankers’ Association (TBA) is discussing how to accelerate the establishment of a new investigative authority that will monitor deceptive and fraudulent transactions linked to criminals. According to TBA chairman Payong Srivanich, the authority would function as a “central fraud registry” and be separate from the Thailand Banking Sector Computer Emergency Response Team (CERT), which focuses on hacking threats.
While advanced talks are currently underway, the TBA has yet to set a time frame for establishing the new entity. Payong says a “feasibility study and project details” will dictate the timeline.
The Central Fraud Registry
In 2021, the Office of the National Economic and Social Development Council (NESDC) conducted a study that uncovered nearly half of the people in Thailand had been scammed “through the Internet and modern communication” within one year. With an average damage value of about THB2,400 per person, the study also found more than half of the victims took no action, many believing the government’s online fraud prevention/management was “not as effective as it should be.”
While Payong noted that TBA members know their clients face a heightened risk of being deceived into making transactions by criminals, “it would be too costly for each bank to implement its own preventive measures.”
The chairman said that setting up the new central registry will require the cooperation of several agencies, including the…
