Bangkok: Phayong Srivanich, President of the Thai Bankers' Association, has issued a warning regarding the CLICX debt manipulation scheme, emphasizing the ability to trace individuals who post misinformation and advising against paying for sharing or retweeting such content. He highlighted the exploitation of public resources by these schemes and stressed the need for vigilance in the digital economy.
According to Thai News Agency, Mr. Srivanich expressed concern over social media posts about people preparing to default on loans approved by CLICX Bank. He noted that this behavior is alarming not only due to the potential for loan defaults but also because it represents a deliberate misuse of public resources. With Thailand's informal economy at 48% and only a small fraction of the population formally employed and paying taxes, exploiting system loopholes to obtain loans without repayment is seen as an abuse of resources belonging to depositors, taxpayers, and law-abiding citizens. Mr. Srivanich called for a more robust mechanism to screen and prevent individuals from engaging in such fraudulent activities.
Mr. Srivanich further emphasized the necessity of intelligent systems that utilize technology and skills to combat data-based threats. He remarked that accurate data is crucial for intelligent processing, which is essential for achieving a smart economy and society.
Regarding the TSD user data leak and the subsequent closure or alteration of bank accounts by many individuals, Mr. Srivanich acknowledged that data leaks should be avoided but admitted they are becoming a new normal in the digital economy. He discussed the importance of the financial system's ongoing efforts to filter and monitor user behavior and highlighted the role of the public in managing their accounts. He assured that the Thai Bankers Association, along with TSD and TB-CERT, are coordinating efforts to prevent further incidents. He warned that leaked data, although not containing sensitive information, could be used by fraudsters to deceive individuals into making investments or transferring money, urging the public to remain vigilant.