Telecommunications Regulatory Authority clarifies: Mobile Banking services still operational as of May 27th, with exceptions for family plan extensions.

During the end of the week, there were reports that TOT Company issued a directive prohibiting banks from providing mobile banking services to phone numbers that do not match the account name to address the issue of account fraud. This directive went into effect earlier today (May 27). TOT Company clarified that as of May 27, the mobile banking system is operating normally, and this is just part of the ongoing process.

TOT Company stated that this policy is a collaborative effort between TOT Company and the banks, with TOT Company acting as an intermediary. The process involves banks collecting accounts along with phone numbers linked to mobile banking and sending them to TOT Company. TOT Company will then separate the network before coordinating with the operator and sending it back.

While the consideration of opening various account types is causing concern online, TOT Company noted that it is at the discretion of the banks to make exceptions, such as allowing access for grandchildren, elderly parents, or even clear self-identified corporate numbers.

TLDR: TOT Company implemented new directives to prevent account fraud by requiring banks to match phone numbers with account names for mobile banking services. Collaboration with banks and TOT Company is ongoing to streamline the process.