Thailand warns of escalating cybercrime (Photo:thethaiger.com) Bangkok (VNA) – The Research Department of the Stock Exchangeof Thailand (SET)has provided a stark warning about the escalating threat from cybercriminals.
The departmentestimates that cybercrime inflicts daily approximate damage of 85million THB (2.5 million USD) each day this year.
It has emphasised the necessity to address this pressingissue as global damage from cybercrime threats continues to balloon. Predictedto top 8 trillion USD by 2023, the urgent necessity to curtail cyber threats isglobally acknowledged.
According to SET, the burgeoning threat of cybercrimecontinues to escalate in Thailand. The country recorded 218,210 complaintsrelating to cybercrime threats within just one year. Assessed damage from theseincidents equated to 31.5 billion baht or 85 million baht each day. Most ofthese cybercrimes were personal frauds executed by call centre gangs.
Cyber fraud activities encompassing online purchases,loan shark applications, Ponzi schemes, and investment scams have led to aswell in related lawsuits.
A report by Thailand’s National Cyber Security Agency (NCSA)reveals that 551 cyber threat incidents occurred from October 1, 2021, toSeptember 30, 2022. Two in three incidents were cyberattacks against government agenciesand other critical institutions through hacked websites.
Educational institutions and public health agencieswere the most targeted, reflecting a significant rise in cyber-attacks. Onoccasions, these breaches led to major systems disruptions and leaked data.These incidents can have a painful effect as it takes considerable time torectify the situation.
The department urges Thai users to exercise cautiongiven the steep increase in smartphone transactions which exposes them to ahigher risk online. Cybercriminals can easily access ‘backdoors’ into theirlives if Thai users fail to use adequate online protection measures andsafeguards./.
