Mobile banking users may need to complete a biometric scan when adjusting the limit for monetary transfers to strengthen security for mobile transactions.
Yos Kimsawas, head of payment systems at Thai Bankers’ Association (TBA), said the group collaborated with the Bank of Thailand and other state and private organisations to upgrade related security systems concerning financial transactions, especially mobile banking applications as cybercrime risk escalates.
The TBA held discussions with the central bank on a biometric scan requirement for mobile banking users when adjusting the transfer limit. The extra security step is in addition to the existing personal identification number and one-time password requirements to change a transfer limit.
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