The Bank of Thailand (ธปท.) has issued a new announcement targeting the current severe issues of cybercrime and fraud, especially online scams and "call center" scams, introducing a series of new security measures aimed at enhancing the security of mobile banking services and protecting users from financial fraud.
Here are the main contents of the new regulations:
1. Limit each account to be used on only one device: To prevent account forgery or misuse, it is stipulated that each bank account can only be used on one mobile device to ensure account security.
2. Prohibit sending links via SMS and email: To avoid phishing emails or texts tricking users into disclosing personal information, banks are required to stop sending SMS and emails containing links, especially those asking for sensitive information (such as account details, passwords, etc.).
3. Enhance user authentication: Banks will introduce facial recognition and biometric technologies to further enhance the security of identity verification. Especially for high-value transactions (such as those exceeding 50,000 Thai Baht per transaction or 200,000 Thai Baht per day), additional identity verification is required.
4. Set limits for minors and low-risk transactions: For users under the age of 15, the maximum daily withdrawal and transfer limit is 50,000 Thai Baht. Additionally, for low-risk transactions (such as transfers between one's own accounts), banks may consider relaxing the requirements for identity verification.
5. Address fake applications and malware: Banks must establish monitoring mechanisms to timely identify and address counterfeit banking applications and malware, preventing users from downloading fake applications that lead to information leakage or financial loss.
These measures aim to enhance the security of mobile banking services, reduce the risk of cyber scams and financial crimes, and ensure the safety of users' funds. The new regulations will take effect 30 days after the announcement is published.
