Sometimes even though I'm as cynical as the rest of you guys something is better than nothing. The theory is simple and sound. It's always about the money. If it costs the banks more to be recklessly greedy and place customers at risk than to implement effective security we know which way the wind will blow. And since it's always about the money, if Thailand gets a reputation for people losing money to their banks' incompetence the government may be inclined to actually do this. So through my rose colored glasses I see a win/win situation. The only things that might stand in the way are stubborn government stupidity and brown envelopes.  We will be waiting with bated breath. Let me add, and I have no idea to what extent it's already been done, I think a massive public education campaign should accompany this. Cheers and happy new year. 

2 hours ago, AustinRacing said:

Nonesense. This will open up another can of worms where scammer working with a victim/potential scammer to get reimbursement from a bank and then split the profits. I envisage this will increase the e-scam businesses. 

 Spot on ! and I personally envisage the emergence of a plethora of even more useless regulations that will only  make life more difficult for the average honest person whilst having no negative side effects whatsoever for the professional scammers who will soon find a way to circumnavigate their way around what for them will be  minor inconveniences

 

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4 hours ago, 7euner said:

How is this different than Europe, except limit is €100.000?

The main difference will quickly become apparent when somebody ( especially a foreigner ) tries to recover any money due to a collapsed bank.   

I've got doubts about the viability of this and how it'll work, but on the surface this is a great idea.  It's time that banks took some accountability for their inaction.

 

Same as governments who allow the free flow of drugs and people across their borders to pass the problem to someone else, and insurance companies who find ways of not paying out valid claims.

Good news!