Will Thai banks and network operators compensate customers who were scammed online?

Thailand's Ministry of Digital Economy and Society is pushing for a law amendment that will increase prison sentences for cybercrimes and hold banks and telecom operators accountable for online fraud.

Thailand has seen a recent increase in online scams.

Thailand's Minister of Digital Economy and Society Prasert Chanthararuangthong recently said he will propose that the government amend regulations related to cybercrime, in which banks and mobile network operators will be held more responsible.

Besides giving responsibility to banks and mobile operators, the draft amendment also aims to increase prison sentences for offenders, according to The Nation .

Mr. Prasert explained that the draft amendment to the 2023 decree on the prevention and suppression of cybercrime is being reviewed by the Thai Council of State to be submitted to the cabinet for approval.

The proposed amendments would increase the prison term for individuals convicted of trading personal information causing significant economic loss, raising the sentence from one year to five years.

The draft also proposes that commercial banks and mobile network operators share responsibility for financial losses suffered by customers who are tricked into transferring money online by gangs, he said. However, Mr. Prasert did not provide details on how these parties would be held accountable.

He said only that if passed, the draft would come into effect later this month.

To prevent money laundering through new businesses, Mr Prasert said the Business Development Department has linked its online database with the Anti-Money Laundering Office.

Mr Prasert said the bureau would block blacklisted individuals from registering new businesses unless they could provide strong evidence to refute the suspicions.

He also said the Ministry of Digital Economy and Society would hold a meeting with mobile operators to prevent their SIM cards from being exploited by criminal gangs. Last month, police conducted a raid and seized 300,000 SIM cards from a phone fraud gang.

Thailand’s Ministry of Digital Economy and Society has recorded an increase in online scams. From March 2022 to November 2024, a total of 739,494 cases were recorded, with total losses of up to 77.36 billion baht (56,817 billion VND).

Source: https://thanhnien.vn/ngan-hang-nha-mang-thai-lan-se-den-tien-cho-khach-hang-bi-lua-qua-mang-185250110065201453.htm