฿130m ‘stolen’ from over 10,000 Thai bank accounts in just four days

[snoop1130]

 

About 130 million baht has been mysteriously withdrawn from 10,700 bank accounts through credit and debit card payments between October 14th and 17th, according to President of the Thai Bankers Association (TBA) Payong Srivanich, today (Tuesday).

 

The mysterious withdrawals, mostly payments for goods or services with stores registered in foreign countries, have become the subject of an intense investigation by the Bank of Thailand, the TBA, the police and Ministry of Digital Economy and Society.

 

Mr. Payong said that the cyber criminals used information from the credit or debit cards to place multiple orders in small amounts, which do not require the use of a one-time password (OTP) to complete, adding that that banks will refund the affected customers within five days, if it can be proved that they did not order any goods or services online during the period.

 

Full Story: https://www.thaipbsworld.com/130m-stolen-from-over-10000-thai-bank-accounts-in-just-four-days/

 

-- © Copyright Thai PBS 2021-10-19

 

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[internationalism]

so they know exactly account numbers and exact amounts, but not refund until proven they didn't spend it 

[steven100]

Typical Thailand =     full of Thieves and cheats      !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[n00dle]

4 minutes ago, steven100 said:

Typical Thailand =     full of Thieves and cheats      !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

What a stupid response. ATM, credit card and debit card fraud is worldwide. 

 

I also strongly doubt the entire population was involved in this, especially since they were the primary victims. 

 

In fact nothing I have seen indicates that this was perpetrated by thais, though if it was kudos for a remarkably tech savvy  crime.

Edited October 19, 2021 by n00dle

[steven100]

32 minutes ago, snoop1130 said:

if it can be proved that they did not order any goods or services online during the period.

so every far king Thai bank account member has to check account withdrawals for the last week or so because the banks are not capable of providing a banking system equivalent to the rest of the world.   !!!!!!!!!!!!!!!

 

WHAT A FARCE ..... 

[steven100]

1 minute ago, n00dle said:

What a stupid response. ATM, credit card and debit card fraud is worldwide. 

 

I alsomstrongly doubt the entire population was involved in this, especially since they were the ptimary victims. 

disagree .... how can you say that,  it happened for small amounts hundreds of times,

WHY ?

how can a secure bank system let this happen even when the account is IDILE    ????

If it was at an ATM ,  ok .... your assumption could be surmised,  but this is with idle accounts.

Hence .....   VERY VERY BAD   !! 

[clivebaxter]

How to prove you have not ordered anything?

[Will B Good]

The dates are wrong.....I had 45 amounts withdrawn on Oct 9.

[HeijoshinCool]

4 minutes ago, Will B Good said:

The dates are wrong.....I had 45 amounts withdrawn on Oct 9.

.

Man, you're having a bad month........ 

 

 

 

 

 

.

Edited October 19, 2021 by HeijoshinCool

[Will B Good]

1 minute ago, HeijoshinCool said:

.

Man, you're having a bad month........ ????

Tell me about it.......????

[Will B Good]

2 minutes ago, HeijoshinCool said:

.

Man, you're having a bad month........ ????

....and now I have some tool telling me it is okay if the karaoke is not too loud and only intermittent....W.T.F.

[HeijoshinCool]

1 minute ago, Will B Good said:

....and now I have some tool telling me it is okay if the karaoke is not too loud and only intermittent....W.T.F.

.

I love Japan, but refuse to make friends there......

 

Because every time I do, they want to take me to karaoke.

[Will B Good]

Just now, HeijoshinCool said:

.

I love Japan, but refuse to make friends there......

 

Because every time I do, they want to take me to karaoke.

Well if you ever feel the urge for a bit of karaoke in Thailand you can always come and stay with us.

[HeijoshinCool]

1 minute ago, Will B Good said:

Well if you ever feel the urge for a bit of karaoke in Thailand you can always come and stay with us.

.

I'll bring the 90-year-old Thai neighbor lady who loves to sing Chinese songs.......

 

Sounds like a bag of cats being whacked with a microphone.

[JetsetBkk]

There, but for a suspicious mind, go I:

 

[JetsetBkk]

3 hours ago, internationalism said:

so they know exactly account numbers and exact amounts, but not refund until proven they didn't spend it 

They KNOW account numbers and CVVs because they ASK for them and some people give them the information.

I didn't. See my post above. I was lucky.

 

[lanng khao]

1 hour ago, Will B Good said:

Tell me about it.......????

If it wasn't for bad luck,you'd have luck at all..

[internationalism]

16 minutes ago, JetsetBkk said:

They KNOW account numbers and CVVs because they ASK for them and some people give them the information.

I didn't. See my post above. I was lucky.

 

I was referring to banks, which suppose to refund this money promptly and without any involvement from their clients

[tgw]

3 hours ago, internationalism said:

so they know exactly account numbers and exact amounts, but not refund until proven they didn't spend it 

I'm guessing the formulation in the article is inaccurate.

 

It's probably very difficult in a Thai bank to find persons with enough seniority to talk to the press and who also possess enough banking knowledge to correctly pass the information on, and then add the translation of an approximate formulation into English.

 

The gaps between seniority and knowledge have caused big problems in the past such as the 1987 crash and the subprime crash, as well as most larger data management/security issues, as managers make decisions they don't fully understand.

 

 

Edited October 19, 2021 by tgw

[smedly]

4 hours ago, steven100 said:

Typical Thailand =     full of Thieves and cheats      !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Thailand approves $1.64 billion more support measures - Thailand News - ASEAN NOW - News, Travel & Forum

 

This banking theft (and I do hope it is fully investigated and those in Thailand involved are caught and jailed) which hit the news these last few days pales to insignificant when compared to public finances which the people of Thailand own 

 

 

where is all the money going with all these emergency budgets that have been approved over the last 8 months - there is absolutely no financial  accountability - hundreds of billions of baht where is it ???????????

 

 

 

[smedly]

4 hours ago, n00dle said:

What a stupid response. ATM, credit card and debit card fraud is worldwide.

it takes many forms, you cannot just generalise it 

 

There are insiders involved in this particular case simply because a member here who is a victim of this theft has never used his Thai bank issued Debit card not even at an ATM so his card details had to come from a system that holds the data at source - either the bank or the CC company in Thailand

[Damrongsak]

7 hours ago, internationalism said:

so they know exactly account numbers and exact amounts, but not refund until proven they didn't spend it 

In the USA, my Dad sent a time-sensitive sealed bid via the U.S. Postal Service overnight.  I don't think it ever arrived.  He didn't get his money back because he couldn't prove it wasn't delivered the next day.  Gotta love bureaucracy. 

[frankie machine]

6 hours ago, lanng khao said:

If it wasn't for bad luck,you'd have luck at all..

born under a bad sign

[Scott]

Troll post reported and removed.

[Nip]

8 hours ago, Will B Good said:

The dates are wrong.....I had 45 amounts withdrawn on Oct 9.

I had a few withdrawals meself. Must check my bank accounts now. 

[Nip]

5 hours ago, smedly said:

it takes many forms, you cannot just generalise it 

 

There are insiders involved in this particular case simply because a member here who is a victim of this theft has never used his Thai bank issued Debit card not even at an ATM so his card details had to come from a system that holds the data at source - either the bank or the CC company in Thailand

Realistically if they are not involved in this they are in something else. 

[ChrisY1]

8 hours ago, HeijoshinCool said:

.

I'll bring the 90-year-old Thai neighbor lady who loves to sing Chinese songs.......

 

Sounds like a bag of cats being whacked with a microphone.

Never give a Thai a microphone!

[thailand49]

A good example!  Thailand banks upgrade your security system number one reason I'm uncomfortable in putting more money in their banks than I need!  When it comes to getting a refund it is like putting teeth here?

[jacko45k]

11 hours ago, steven100 said:

disagree .... how can you say that,  it happened for small amounts hundreds of times,

WHY ?

how can a secure bank system let this happen even when the account is IDILE    ????

If it was at an ATM ,  ok .... your assumption could be surmised,  but this is with idle accounts.

Hence .....   VERY VERY BAD   !! 

Yes, a system that does not recognize 40 or 50 charges of the same  amount occurring in a short space of time as 'suspicious' and put a hold on it, is rubbish security. Then to put the onus on the victim to get their money back... unsatisfactory. 

Edited October 20, 2021 by jacko45k

[malibukid]

11 hours ago, steven100 said:

Typical Thailand =     full of Thieves and cheats      !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

you should try Singapore, i though Thai bank accounts where insured like in the States by the FDIC?

Edited October 20, 2021 by malibukid