BANGKOK, April 28 (Xinhua) -- Thailand's central bank outlined new regulatory standards on Monday, requiring financial institutions and e-money providers to strengthen security measures and share responsibility for damages arising from cybercrimes.
According to the Bank of Thailand (BOT), these standards will be imposed in early May and will be in line with the amended Emergency Decree on Technology Crime Prevention and Suppression that went into effect earlier this month.
Speaking at a media briefing, BOT Deputy Governor Roong Mallikamas said the new regulatory framework aims to better protect customers and requires coordinated actions across banks, telecom companies, social media platforms, e-money businesses, and digital asset operators.
Roong said key measures include limiting mobile banking access for each customer through only one user account and on one device, requiring facial recognition for high-value transfers, banning SMS and email links that could be used in phishing scams, and ensuring apps run only on secure devices.
Financial institutions must issue free-of-charge notifications for outgoing transfers and provide 24/7 emergency contact channels, she added.
She noted that banks and e-money operators are also mandated to freeze suspicious transactions and act swiftly against mule accounts linked to fraudulent activities. Entities that fail to comply will be held financially liable in proportion to their involvement.
The central bank emphasized that public vigilance remains crucial, urging consumers to avoid suspicious links, stay alert for impersonation scams, and monitor financial activities closely. Enditem
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