Thai bankers reassure on mobile banking security following fraud incident

The Thai Bankers’ Association (TBA) has reassured its customers about the security and stability of mobile banking applications. The affirmation follows the recent arrest of a software programmer who developed a tool capable of bypassing facial recognition technology for transactions above 50,000 baht.

It is mandatory for mobile banking users wishing to transfer between 50,000 baht and 200,000 baht per day to authenticate their identity via facial scanning. This is in line with the Bank of Thailand’s cybersecurity protocols.

After the incident, the Thailand Banking Sector Computer Emergency Response Team (TB-CERT) conducted thorough checks within the banking sector. The TBA, post-investigation, stated that the fraudulent software could not affect general customer accounts. This is due to the requirement of comprehensive account owner…