The Ministry of Digital Economy and Society (DES) in Thailand is gearing up to introduce the Central Fraud Registry, a technological solution designed to combat scams and tackle illegal transactions. This innovation stems from the National Interbank Transaction Management and Exchange, a collaboration between the Thai Bankers’ Association (TBA) and the Bank of Thailand.

 

As stated by notable DES figures, Wisit Wisitsora-at, the Central Fraud Registry is an expansion of recent efforts to prevent and suppress cybercrime activity. This platform, he believes, presents victims, banks, and authorities with an enhanced ability to combat online scams and other unlawful internet actions.

 

TBA’s chairman, Payong Srivanich, indicated in previous remarks that the new system would function as a complementary mechanism to the Thailand Banking Sector Computer Emergency Response Team. It is currently associated with the collection of financial institutions under TBA’s supervision.

The innovative platform uses AI technology to aid banks and relevant parties in preventing suspicious accounts from completing possibly fraudulent transactions. The introduction of this system comes at a time when about 600 complaints are lodged every day about scams across complaint centres and online platforms, a slight decrease from 800 daily complaints prior to the implementation of the recent royal decree.

 

by Alex Morgan

 

Full story: https://thethaiger.com/news/business/des-ministry-set-to-combat-cybercrime-with-new-ai-registry

 

-- © Copyright Thaiger 2023-07-11

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

Be very careful Thailand! Just look what banks are doing to their customers in the UK. People are being debanked and not just from their bank but on mass all banks. It has transpired people from windo cleaners, small businesses, political parties and people (including their family members) even a paster/vicar. In the uk you can not exist without a bank account. More and more businesses are refusing to take cash!!!