Bank staffer arrested after siphoning tens of millions of baht from Pattaya expats

[PatOngo]

1 hour ago, flipper2222222 said:

will the bank compensate ?

Ask the bank!

[Captbonio]

11 hours ago, Jonathan Fairfield said:

Bank staffer arrested after siphoning tens of millions of baht from Pattaya expats

 

Image: Manager

 

Police have arrested the assistant manager of a branch of a bank in Pattaya who allegedly stole large sums of money from a group of expats and their Thai wives.

 

Police made the arrest after receiving complaints from customers of the branch that money had been going missing from their accounts.

 

Some of the victims also claimed the suspect duped them into investing in financial products, promising  high interest returns that instead, caused them to lose millions of baht.

 

Others said they had deposited their retirement money, which they had transferred from their home countries, into bank accounts set up by the suspect who also facilitated withdrawals, deposits and updating their bank books over several years.

 

The victims discovered that money had been taken from their accounts when their balances failed to match what was listed in their bank books.

 

Colonel Pisit Poonsap from Pattaya police said he expects more victims to come forward.

 

The branch of the bank in question where the fraud is alleged to have taken place was not named in the Manager report. 

 

 

-- © Copyright Thai Visa News 2021-02-02

 

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Similar thing happened to me with BKK Bk in BKK. It started with small amounts out and then in again shortly after...sometimes 5 or 6 times out and then one back in for the total. I tried calling about it but gave up as for some reason I couldn't make them understand what was going on, or that they refused to accept it. Then one week, when I wasn't looking , about 40k went out in varying different sizes. I called and froze the account, and eventually got most, not all , of the money back. They refused to acknowledge there was a fraud, but implied it was from outside the bank , but it was definitely an inside job as the transaction codes were all internal.  It took about a month to get the funds back and it only happened when I told them i was coming to visit them with the police. Never used them since 

 

[david555]

5 minutes ago, rupert the bear said:

the bank involved failed to notify their customers when the scam was uncovered,when the manager was arrested too,all points to a thai misunderstanding and the victims being left high and dry.im sure itll be dealt with as a private criminal complaint and the bank will try to avoid responsibility.it really makes you think twice about any type of business at a big high street bank,amazing he got away with it so long,what were the rest of the staff doing?sat there like fools obviously not wishing to upset anyone.im sure most of the moneys gone,gambling debts ,mia nois,looking important in big cars,vampiric families etc,hopefully im wrong ,the bank should cough up and......the cops should get back as  much money as possible as its come from a scam.but........they arnt thais and a lot of money involved so......pattaya/cops.we have another report on an attack in USA on a thai it makes headlines as a racial profile and this??????double standards and ignorance again

It shall depend big on which papers they signed ,those could be example as nothing refereeing to Kasikorn ...., however it would be still embezzlement ..., but at his personal title , highest in such case could " abuse of trust " could be pointed to the bank, as it happened on their branch . This could be the bank only " getaway option "

[thonglorjimmy]

8 hours ago, ukrules said:

Yes, the most important thing here is that the person who did it and the bank are never named.

 

How else are they supposed to find the other victims?

 

https://thethaiger.com/news/pattaya/hundreds-of-investors-caught-in-massive-kasikorn-bank-branch-fraud-in-pattaya

[thonglorjimmy]

https://thethaiger.com/news/pattaya/hundreds-of-investors-caught-in-massive-kasikorn-bank-branch-fraud-in-pattaya

 

"As of Wednesday morning staff at the bank branch in the centre of this mess have been “instructed” to tell affected customers that “they will not be reimbursing the monies” as “the products sold to customers were not official bank products”.

[thonglorjimmy]

10 minutes ago, PatOngo said:

Ask the bank!

 

"As of Wednesday morning staff at the bank branch in the centre of this mess have been “instructed” to tell affected customers that “they will not be reimbursing the monies” as “the products sold to customers were not official bank products”.

[rupert the bear]

6 minutes ago, david555 said:

It shall depend big on which papers they signed ,those could be example as nothing refereeing to Kasikorn ...., however it would be still embezzlement ..., but at his personal title , highest in such case could " abuse of trust " could be pointed to the bank, as it happened on their branch . This could be the bank only " getaway option "

lets just see its early days and the docs,in thai?different translations?as we both agree theyre looking for a way out the back door .its looking ugly for the victims.a  manager of that bank ,he obviously lied to the victims every which way.its seems plain the crime was committed using the bank as the vector,they thought they were dealing with the bank not an individual!!

[ICELANDMAN]

1 hour ago, Neeranam said:

Why? 

What other country has beautiful desparate girls lining up to marry them? 

 

 

Many Asian and African countries and South America, we have a lot of choice, you Thai are not the most special

 

[shackleton]

Well we all know  the story if its to good to be true it usually is

3.5% per month ?

Plus this guy was doing this over 7 years

No one wants to see people lose their money  especially from a bank

I hope they are Compensated or at least get something back 

Lessons to be learned for others reading this article 

[david555]

2 minutes ago, thonglorjimmy said:

https://thethaiger.com/news/pattaya/hundreds-of-investors-caught-in-massive-kasikorn-bank-branch-fraud-in-pattaya

 

"As of Wednesday morning staff at the bank branch in the centre of this mess have been “instructed” to tell affected customers that “they will not be reimbursing the monies” as “the products sold to customers were not official bank products”.

here you have confirmation of my thought's about re imbursement few posts before already ! .... LOGIC....!

only they could try sue them it happened in their branch and by a employee ..... on condition those "investors"  did not meet him elsewhere .....

[adexbe]

why does it seem that this kind of problems always happens to the same kind of people...

 

[Matreusse]

12 hours ago, onebir said:

Suggests weak accounting controls in Thai banks?

No, it doesn't, the bank's accounting was correct, that's what brought it to light!  And it happened with Kasikorn, that's only one bank, not "Thai banks" in general.

[Fex Bluse]

Problems are many.

 

These old farang blokes are often not too clued up.

 

They marry and date and open joint account with hookers and other lowly Thai people (almost never decent Thai women). I know "she only work cashier"... sure

 

Their Thai lady companions often constantly drip money from their accounts, constantly buying stuff or giving money to "cousin" or some other handyman, overpaying said "cousin" ... for some reason

 

The blokes almost never audit their accounts

 

Thailand in general is a very low trust society where nobody should be trusted implicitly, least of all people in positions of authority -- like bankers. Thais know this, but Westerners take for granted.

 

=

 

This all equals a recipe for disaster.

[Matreusse]

12 hours ago, impulse said:

 

Gotta love Thai defamation laws.  Hard to tell if your account may be one affected without knowing which bank.  Or decide whether to move your money.

 

You can always read the link where the answer is photographically very clear!

[socabeat]

Why the Bank name and Branch is not published...!?

[jmccarty]

The holy grail of 8% per annum is possible with a lot of Thai mutual funds.  I opted out for years on what my former company had through a bank for staff to invest in. The low, medium and high risk options available always for years outperformed expectations with the high risk option averaging just over 10%/annum over the past 10 years.   Invest carefully with good clear documentation from the bank.

[jacko45k]

13 minutes ago, thonglorjimmy said:

https://thethaiger.com/news/pattaya/hundreds-of-investors-caught-in-massive-kasikorn-bank-branch-fraud-in-pattaya

 

"As of Wednesday morning staff at the bank branch in the centre of this mess have been “instructed” to tell affected customers that “they will not be reimbursing the monies” as “the products sold to customers were not official bank products”.

Weasels.....

[ICELANDMAN]

43 minutes ago, Road Warrior said:

caution  --most banks try to sell you their  insurance !!!!!! 

 

Is no the bank but employer will sell the insurance to you, cheek the papers, Thailand is very amazing before you lost your money.

[chang50]

42% a year interest and these investors were not suspicious?

[kwak250]

A local thai woman always boasted how rich she was and had over 100 million in her foreign husbands account which everyone though was b.s the way she bought fake gold saying it was real.

Anyway her husband died and she said the same bank mentioned took all the money which everyone said was impossible. 

But now i am starting to wonder.

Then again she is a mad old fruitcake so who knows..

[jacko45k]

8 minutes ago, adexbe said:

why does it seem that this kind of problems always happens to the same kind of people...

 

Because once it happens to them, they become that same kind of people.

[AlfHuy]

2 hours ago, redwood1 said:

And by the way    3.5% X 12 = 42% interest a year.... 

More.

Re-invest the interest and compound.

That's what a few did.

[youngster30uk]

10 hours ago, ctxa said:

 

What certificate do you wanna clone from a router??

 

Cookie hijacking is the most important plan to cloning a session, but not the only one. IP Spoofing plays a role (as they bank will keep a record of it), DNS spoofing as well, screen size, and many others which are bank dependent. A potential hacker would have to study its target bank carefully before. 

 

Smartphones and specially unjailbroken iPhones have something called sandbox. Pretty much means that each app runs in its own environment separate from that of other apps, so it would be much harder for an app to access or inject code into another app. On Windows a hacker just needs to trick you into running his software as Administrator, and then he will have full control of the browser where you are using your internet banking and the browser's data. Android smartphones, I'm not very familiar with, but they also have in essence the same as the iPhone sandbox.

 

PS, if you don't believe all this, you can just have a look at my website: https://www.ctabuyo.com and you will see what I do.

It''s quite funny (in a worrying way), that random unknown person on the internet is talking about how much he knows about the vulnarabilities of haking, then asks people to click a link to an unknown site

 

[Matreusse]

6 hours ago, Bruce Aussie Chiang Mai said:

Regardless of so called greed of victims this still appears to be bank problem.

If money was removed from account without approval by a bank employee surely the bank is responsible.

I agree though you would be pretty dumb if not regularly checking balance or not knowing your balance.

????❤????????

The money never went into Kasikorn accounts, the documents provided to the investors after they gave their cash to the Asst Manager were fake, he took the money!

[david555]

Just now, chang50 said:

42% a year interest and these investors were not suspicious?

No ! , this could be  those  retirees who don't like to put 800K on bank ret ext. option at 0.50% ,as they can get more in investment they say ????

[Matreusse]

3 hours ago, Wildliferescue said:

Why is ThaiVisa not telling us it is the Kasikorn Bank? 

They are, they gave a link!

Edited February 3, 2021 by Matreusse

[Caldera]

I don't get how this can go unnoticed for longer than a few days. With my Thai bank accounts, I receive SMS and/or push notifications whenever money goes in or out. Sure, a bank employee could disable them for my accounts, but then my own transactions wouldn't trigger notifications anymore either. I'd also like to think that a low-level bank employee cannot fake whatever I get to see in my apps, so any large amount missing would certainly get my attention within a few days tops.

 

[dabhand]

3 minutes ago, Matreusse said:

They are, they gave a link!

 

TV did not give a link to the bank name in their OP.

 

It was given in a later post with a link to TheThaiger website.

[david555]

1 minute ago, Caldera said:

I don't get how this can go unnoticed for longer than a few days. With my Thai bank accounts, I receive SMS and/or push notifications whenever money goes in or out. Sure, a bank employee could disable them for my accounts, but then my own transactions wouldn't trigger notifications anymore either. I'd also like to think that a low-level bank employee cannot fake whatever I get to see in my apps, so any large amount missing would certainly get my attention within a few days tops.

 

As said by bank , not their products ....so probably with further clearing up , it is probably he worked as a kind of money broker for them at private title , hence maybe fake passbooks or similar , if he was clever he could give them some interests showing taken from their own money to give trust to go further .... who knows ...?

 

to be continued ....????

[redwood1]

Well guaranteed investment condo scheme with returns of 20-30-40% a year have flourished in Pattaya for decades.....With suckers buying in year after year so this bank manger was just carrying on a fine Pattaya investment tradition.....