Bangkok (VNA) - Thailand is set to implement a new law this month, aimed at curbing online fraud by holding telecom firms and financial institutions more accountable for victims' losses.
The 2023 Emergency Decree on Cybercrime Prevention and Suppression seeks to ensure these entities play a larger role in protecting consumers. It requires banks, telecom providers, social platforms, and websites to take proactive measures against cyber fraud.
According to Deputy Prime Minister and Minister of Digital Economy and Society Prasert Jantararuangtong, the decree will hold financial institutions and mobile operators responsible for losses incurred by victims.
The ministry is planning additional measures, including supervision on selling SIM cards to juristic persons to tackle criminal activities, and will discuss this issue with the National Broadcasting and Telecommunication Commission, Prasert said.
The ministry has also planned to collaborate with the Anti-Money Laundering Office and relevant agencies on disrupting money laundering operations, as well as boosting efficiency in screening mule accounts and transferring cash into cryptocurrencies.
On January 1, the ministry launched a measure which stipulated that messengers who send SMS messages containing URLs must register and collaborate with mobile operators before sending, The Nation cited the Deputy PM as saying.
Prasert added that the ministry is accelerating efforts to deal with cyber crimes as an urgent government policy, especially blocking all illegal social media pages and websites to disrupt criminal activities.
From October to December last year, 52,691 illegal social media pages and websites were blocked, higher than 31,154 in the same period from October to December 2023, he said./.
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