Thailand’s Minister of Digital Economy and Society (DES) strongly urged banks to halt unauthorised transactions following a request by their customers. This suggests an effort to mitigate the financial damages inflicted by online fraudsters on unsuspecting victims.
The directive comes in light of the recent enactment of the Royal Decree on Cyber Crime Prevention and Suppression, which came into effect on March 17. The new regulation grants banking institutions the authority to suspend accounts that are suspected to be conduits of online fraudsters. Importantly, this action can be taken without requiring an official order by law enforcement agencies or the affected clients.
Hence, DES Minister Chaiwut Thanakamanusorn highlighted the need for banks to devise mechanisms that aid clients who seemingly have been the
