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Bank completes refund of 130 million baht, debit-credit card fraud victims

Bank of Thailand and Thai Bankers’ Association announced that 130 million baht has been returned to victims of debit-credit card fraud. ready to accelerate the level of protection

Date 23 Oct. 21 Bank of Thailand Issued a joint press conference with the Bank of Thailand and the Thai Bankers’ Association about the progress of the operation in case of abnormal payment through credit and debit cards, stating

According to the Bank of Thailand (BOT) together with the Thai Bankers Association Has clarified on October 19, 2021, the case of unusual payment via credit and debit cards of customers. This was caused by scammers taking random card data and using them to spoof the transaction. It was found that between 1 and 17 October 2021, 10,700 bank cards were used for such transactions. The total value is approximately 130 million baht. Each bank has a system to detect abnormal transactions according to the type of store and product type. from such events The bank has added preventive measures and has taken steps to solve the problem.

The Bank of Thailand and the Thai Bankers’ Association Please clarify the latest additional operations of the Bank as follows:

1. Last Friday, October 22, 2021, the bank has refunded all debit card customers who have been damaged in the above cases. As for the credit card, there has been a pause, expedited review and cancellation of the transaction. The customer does not have to pay the unusual amount and no interest is charged.

2. The bank has already upgraded the protection and solved the urgent problems, namely: (1) detecting unusual transactions; to cover low-volume and high-frequency transactions; (2) special monitoring of foreign transactions; (3) notify customers of all transactions from the first transaction; and (4) publicize methods to prevent fraud. risks such as adjusting the credit limit on the card to suit the spending Avoid tying your card to untrusted websites or platforms. This caused the volume of such unusual transactions to be greatly reduced. The bank will contact the customer for further inquiries in case of any suspicious transactions.

However, if additional damage is found from the above case Debit card customers will receive a refund within 5 business days.

In addition, the Bank of Thailand and the Thai Bankers’ Association Discussed guidelines to drive all card network operators Added additional measures to enforce identity verification before making debit card payments for all online merchants. especially overseas merchants, such as using a card network authentication system that allows customers or buyers to verify their identity by entering the OTP number before the store debits the account This is a security that is stronger than the international standards that the card network has set. as well as improving the efficiency of risk management in customer transactions. By bringing new technology to support management, use, prevent and detect new forms of financial threats continuously.

The Bank of Thailand and the Thai Bankers’ Association Please note that the electronic payment system has risk management in line with international standards. and the bank in cooperation with the Fraud Detection and Prevention Club credit card club and the Banking Information Technology Security Coordination Center (TB-CERT) to develop protection systems to keep up with new threats, and to share information about the use of digital financial services for the public to understand. and increase caution in online transactions, such as transactions with platforms without prior authentication. or do not use OTP and regularly check financial transactions To reduce the risk of scammers committing any financial fraud, which must be accelerated further.

If in doubt You can contact for more information through various service channels of the Bank or at the Bank of Thailand.

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