NationThailand-Apr 14
The Bank of Thailand (BOT) plans to introduce regulations this month making financial institutions and payment providers liable for losses from call center scams. Roong Mallikamas, Deputy Governor for Financial Institutions Stability, made the announcement following the publication of the Royal Decree on Measures for the Prevention and Suppression of Technology Crimes (No. 2) BE 2568 (2025) in the Royal Gazette on Saturday (April 12). The BOT supports the principles outlined in the Royal Decree and has collaborated with relevant agencies to provide input and improve the content to strengthen measures for combating technology-related crimes, she said. A key provision of the Royal Decree is the establishment of a framework requiring relevant service providers — including financial institutions, payment service providers, telecommunications companies, social media platforms and digital asset businesses — to enhance customer protection and share responsibility for damages if they fail to meet regulatory standards. She explained that the forthcoming announcement would address issues such as protection against user impersonation in financial transactions, the management of mule accounts, and prompt reporting mechanisms. It is expected to be issued by the end of April. Although the Royal Decree provides for service providers to be held liable for customer losses, Roong urged the public to remain vigilant when using financial services. She also advised users to follow security best practices, refrain from clicking on suspicious links, and carefully verify transaction details to avoid falling victim to technology-based crimes. Read more at:
https://www.nationthailand.com/business/banking-finance/40048761
