400.000 Baht disappeared, a story of BKK Bank, SCB and Advice IT

[BritManToo]

20 minutes ago, RSD1 said:

This issue can be easily avoided by using a service provider like Wise, which offers additional digital debit cards for free, or

Wise debit cards (digital or physical) are only available to those using a UK address.

If you use a Thai address, the digital option is blanked out on the app.

[Carsten07]

26 minutes ago, RSD1 said:

 

Lower daily transfer limits could have clearly prevented this type of fraud, as others have already pointed out. Additionally, your current setup isn’t ideal for ensuring your wife has access to funds in the event of your death. You should consider setting up a separate legal structure for that, as your current arrangement increases your exposure to fraud, as you’ve unfortunately discovered.

 

A better general solution is to set up two bank accounts in Thailand at different banks. Use one account solely for savings. This account should have no ATM card, and the daily transfer limits should be set to zero. This is where you store the bulk of your money. UOB is a great option for this purpose because their banking security is stronger than that of most local banks. They also offer free life insurance and a guaranteed payout to your wife in the event of accidental death. Use the second account for daily spending, which can be with BBL, SCB, KBank, or any bank you prefer.

 

Once a month, transfer the amount needed for daily living expenses from the main savings account to the spending account. For added protection, set the daily transfer limit, ATM withdrawal limit, and debit card payment limit on the spending account as low as possible to minimize potential losses in case of fraud.

 

By implementing this system, even if the spending account is compromised, the financial impact will be minimal, and the main savings account will remain secure, especially if you use UOB. These precautions will make it significantly harder to fall victim to the type of fraud you experienced.

 

UOB will be following the same rules as any other bank, i don't think they are better or safer. No.

 

Should i drop dead the plan was to transfer the 400K for Family Visa straight to another account, Logically but somehow a bit illegal. Who Cares? You?

 

Whatever, here we have a case of not even Fraud, Advice received a certain amount of money. Nothing illegal here

 

But after announcing it was stolen money from a hack (?) it slowly turns into completely illegal funds which should be returned asap, wouldn't you agree?!

[RSD1]

14 minutes ago, Tropicalevo said:

 

 

So, you have to go the bank every month in order to do a manual transfer?

No thanks.

Not at all. Once a month login to the main savings account online. Temporarily set the transfer limit to the amount necessary to make the transfer. After you make the transfer to your other savings account, then set the transfer limit back to zero and log out. Then repeat the same the next month. Takes less than 5 minutes total. But much added security.

[RSD1]

7 minutes ago, BritManToo said:

Wise debit cards (digital or physical) are only available to those using a UK address.

If you use a Thai address, the digital option is blanked out on the app.

Correct, Wise does not provide debit cards to people with an address on their Wise account in Thailand. But they do offer it to people with an address on their account in most Western countries. They will also issue debit cards to people in Asia if you have an address in Japan, Singapore or the Philippines. 

[Carsten07]

7 minutes ago, BritManToo said:

In early 2023 they limited phone app transfers to 50kbht/day for all foreigner accounts, unless you changed that at your branch.

Online, atm and in person transfers are different.

 

The op says internet banking, which has no such restriction.

I didn't read the op carefully enough, so my bad.

No problem, i thought Internet Banking was much safer than the App on the phone, but maybe it is not.

 

Inside a bank, the clerk swipes his card and can do any transaction, without pictures or limits.

I bought a house and transferred 6.8 Mio just like that, Passport was needed but nothing else.

 

Here we are at the culprit. Blaming someone at BKK Bank is dangerous but, from my understanding, this is how it happened. How else?! My PC was not hacked, all security is in place. This will end up as a scandal on TV and at Bangkok Post.

Was not the first time.

[RSD1]

15 minutes ago, Carsten07 said:

UOB will be following the same rules as any other bank, i don't think they are better or safer. No.

They are safer on account access, possible security breaches and fraud. 
 

15 minutes ago, Carsten07 said:

Should i drop dead the plan was to transfer the 400K for Family Visa straight to another account, Logically but somehow a bit illegal. Who Cares? You?

 

Nope, don't care at all. Do whatever you like. But your structure is flawed and problematic as you just discovered. 
 

15 minutes ago, Carsten07 said:

Whatever, here we have a case of not even Fraud, Advice received a certain amount of money. Nothing illegal here

If money went from your account to their account, you didn't authorize it, and it wasn't a computer glitch, then that's definitely fraud. 
 

15 minutes ago, Carsten07 said:

But after announcing it was stolen money from a hack (?) it slowly turns into completely illegal funds which should be returned asap, wouldn't you agree?!

As an outsider looking in, and based just on the information that you provided then, yes, I guess I would agree. But you are only able to provide one side of the full story. So without seeing the details and report from a full legal investigation, then I can't really conclude anything with any certainty. 

[save the frogs]

1 hour ago, The Fugitive said:

My AliExpress account was hacked. I had a stored credit card. The hacker ordered goods and changed the delivery address to Moldova. 

Try to get a credit card that has an app on your phone that allows you to block the card when not in use.

 

I am looking for one now. 

 

[RSD1]

5 minutes ago, save the frogs said:

Try to get a credit card that has an app on your phone that allows you to block the card when not in use.

 

I am looking for one now. 

 

Wise or PayPal if you are interested in Fintech companies. Many banks in the USA offer the function too, Chase, Citibank, etc. Also, Privacy.com offers it too, they even issue one time use digital debit cards for online purchases, but you must have a US checking account linked up to be able to use Privacy.com