The Bank of Thailand and the Thai Bankers’ Association have reported on the progress in exchanging account information through the Central Fraud Registry (CFR). The registry was initiated on August 1st and currently holds a total of 15,000 names reported since the end of 2023.
This new measure entails individuals listed in the CFR database to be blocked from accessing services through all electronic channels at all banks. Previously, only accounts associated with the reported routes were suspended. Subsequently, the rights to open new accounts will be restricted and require additional verification.
Source: Bank of Thailand
TLDR: The Central Fraud Registry has been implemented to block individuals listed in the database from accessing electronic banking services and opening new accounts without additional verification.
Leave a Comment