Thailand’s banks making efforts to curb cybercriminals

Illustrative photo (Photo: vtv.vn)

Bangkok (VNA) – Thailand’s banks are making efforts to develop technological infrastructure to prevent cybercrime in the sector.

From the beginning of this year, Thailand's financial sector has reported 308 ransomware cases, while the manufacturing sector recorded 182 cases, telecom 70 cases, and the healthcare sector 42 cases.

Kitti Kosavisutte, the honorary adviser to the Thailand Banking Sector Computer Emergency Response Team (TB-CERT), a group of financial institutions under the Thai Bankers' Association (TBA), said that ten leading industries in Thailand have been affected by ransomware with 1,910 cases this year.

TB-CERT, in collaboration with several organisations, the government, and the private sector, has been developing and upgrading security systems to prevent cybercrime.

Kitti said that the banking industry is attentive to preventing cyber risks on mobile banking platforms following cyber-attacks as digital banking usage increases.

According to TBA's cybersecurity guidelines for mobile banking services, banks have embedded detection systems to reject fake mobile applications. Mobile banking users also need to accept some digital risk themselves, he said.

Kitti suggested that mobile banking users should download mobile apps through official operating systems such as the Play Store or App Store directly rather than apps from unknown links.

Kitti said that the TBA is setting up the Central Fraud Registry to probe financial fraud in the banking industry, especially the use of nominee deposit accounts.

Banks plan to share details of such fraudulent accounts with the registry's data centre to reduce financial risks.

To avoid fraudsters, users should change their data on mobile banking apps, use airplane mode on phones, or take advantage of banks' call centres to get suitable advice.

The Thai Government has approved an emergency decree on preventing technology crimes, which deals with the deposit account nominee problem. The decree is expected to be enforced this month./.