The Bank of Thailand (BOT) stated that royal measures to prevent and combat technology-related crimes (version 2) in 2025 are supported by the BOT. They collaborate with relevant agencies to provide feedback and enhance the effectiveness of measures against technology-related crimes.
One key point in the Cyber Act is that financial institutions, payment service providers, telecommunications service providers, online social media service providers, and digital asset businesses must elevate customer care and be accountable for any negligence in compliance with regulatory standards, resulting in customer harm.
By the beginning of May 2025, the BOT is preparing to announce standards for financial institutions, including commercial banks and specialized financial institutions, as well as licensed electronic money service providers. Failure to comply with the specified standards will result in accountability for any customer harm incurred.
Key actions to be taken under the new Cyber Act include preventing phishing scams, limiting and managing account fraud effectively, and ensuring prompt customer reporting with 24/7 emergency contact channels.
Remedies for harm under the new Cyber Act involve reporting incidents to the Operational Center for the Prevention and Suppression of Technology-Related Crimes (OPS) via AOC 1441 for further investigation.
Once notified, financial institutions are required to freeze suspicious transactions linked to reported incidents for investigation, with the data being forwarded to authorities for verification through e-payment/DA systems.
If verified, the funds are returned to the victims, but in case of disputes, victims have 30 days to appeal to court for a final judgment. Businesses associated with the incident must also share responsibility and comply with regulatory standards set by regulatory bodies.
In conclusion, the BOT emphasizes that all service providers must collaborate and be accountable for any lapses in compliance with regulatory standards to prevent financial crimes. Vigilance is crucial in utilizing financial services and conducting transactions to avoid falling victim to technology-related crimes.
TLDR: The Bank of Thailand collaborates with relevant agencies to enhance measures against technology-related crimes in 2025, pointing out the importance of accountability and vigilance in financial transactions to prevent harm.
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