Bangkok, July 13-BOT continues to implement measures to manage financial fraud threats, resulting in the first quarter of 2023, the damage from money-sipping apps decreased, but increased in May-June. Use a new scam to send an SMS through a fake cell tower - trick them into deleting real banking apps and downloading fake ones.
Miss Siritida Phanomwan Na Ayudhya, Assistant Governor Payment Systems Supervision and Financial Consumer Protection Division, Bank of Thailand (BOT) revealed that according to the BOT has issued measures to deal with financial fraud on March 9, 2023 as a guideline. Minimum compliance for financial institutions All companies follow the same standards for managing risk from financial transactions. protection, detection, and response and response. This will help solve problems for people quickly. and more comprehensive
The BOT has monitored all financial institutions to comply with the specified timeframe. which progress according to plan
1. Preventive measures That all financial institutions have completed, including unattaching all types of links via SMS, email and unattaching important information links via social media. Restricting the number of mobile banking accounts (usernames) of each financial institution to be able to use on one device and developing security systems on mobile banking to keep up with new financial threats.
As for the measures to notify mobile banking users before every transaction. Determining the ceiling of the maximum withdrawal/transfer amount per day to be appropriate according to the risk level of each type of user group and an awareness test for fraud, as well as enhancing the strictness of the minimum authentication process with biometrics by scanning faces when meeting certain conditions for mobile banking transactions, such as money transfers. 50,000 baht per time or 200,000 baht per day, or increase the daily transaction limit from 50,000 baht or more, most financial institutions have already implemented and will be completed by the end of 2023
2. Detection measures All financial institutions have already begun to set conditions for detecting and monitoring abnormal transactions. or commit an offense And report to the Anti-Money Laundering Office (AMLO) while the system detects and tracks suspicious accounts or transactions instantly. To temporarily suspend transactions when detected faster. under development which will be completed by the end of 2023
3. Response and Countermeasures All financial institutions have a 24-hour hotline separate from normal service channels. so that service users can report incidents quickly including taking care of affected service users In addition, in order to effectively manage financial risks and see tangible results, the BOT has cooperated with relevant agencies such as Ministry of Digital Economy and Society National Police Agency Department of Special Investigation, AMLO Office, NBTC Office and Thai Bankers Association Push for the implementation in accordance with the Royal Decree on Measures to Prevent and Suppress Technology Crimes B.E. 2566 (2023).
Financial institutions have a 24-hour notification process and a 72-hour temporary suspension of transactions to help cut the financial path. Including having a process and developing a central system for exchanging account information and suspicious transactions between financial institutions and related agencies. to help reduce damage to people's property and help manage horse accounts. In order to deal with problems faster.
In this regard, the aforementioned Thai financial disaster management measures are in line with international standards and the operations of the financial institutions. In foreign countries such as Singapore, Australia and Hong Kong, some measures in Thailand have been additionally imposed, such as limiting mobile banking of each financial institution to use on 1 device, enhancing identity verification with biometrics, mobile banking security measures to prevent money sucking app including warning and awareness-raising measures. The BOT will monitor and evaluate the results of various measures in order to consider the appropriateness and adequacy of measures against the evolving forms of financial threats.
Mr. Pinyo Tripetcharaporn, Director of Information Technology Risk Supervision and Examination Department, BOT, revealed that major financial fraud threats remain intact, such as call center gangs, fraudulent SMS and money-sipping apps. In the 1st quarter of 2023, it was found that the damage from money-sipping apps began to decrease, but in the past 1-2 months Damage figures increase as scammers adjust their tactics. Use new tools and technologies to help. By using a method of sending an SMS through a fake cell phone signal tower to increase the signal strength, this fake SMS will go into the same SMS box as the bank. But the observation point is that if the SMS has a link attached, presumably it is a fake SMS. In addition, there are also tricks for people to uninstall the real bank app and trick them into downloading the fraudulent money-sipping app instead.
However, financial disaster management can be comprehensive. Must integrate cooperation from relevant agencies to continuously drive measures to solve problems. To build confidence and safety in using online financial services for the public. Including the cooperation of people who pay attention to forms and prevent financial threats that are continuously communicated through various channels in order to keep up with new types of threats, do not click on unreliable links. Avoid giving out personal and financial information. Keep your operating system and mobile banking applications up-to-date. Or don't download programs other than sources that are controlled and guaranteed by the developer. Do not use unsafe phones for financial transactions. This will be another key to sustainable disaster prevention.
along with basic guidelines for people who are victims of scams Must be mindful and stop contacting fraudsters immediately, immediately contact the financial institution using the service via the 24-hour call center hotline or branch within business hours. to temporarily suspend transactions or accounts of the victim and the destination account; and the last point Notify quickly within 72 hours via the website. Thaipoliceonline.com 24 hours a day or a police station for the police to notify Financial institutions extend the period to suspend transactions or accounts for another 7 days in order to investigate, investigate and issue warrants for further account suspension.-Thai News Agency
Source: Thai News Agency