Thai Bankers Association (TBA) assures safety of mobile banking apps; warns against online scams and illegal activities.
- The Thai Bankers’ Association has reassured the public that banking applications are secure and stable. They emphasized the importance of facial scanning for transactions exceeding 50,000 baht to prevent fraud.
- Fraudsters attempted to bypass facial recognition in banking apps by gaining access to personal data and using “mule accounts” to facilitate money transfers.
They reaffirmed that transfers over 50,000 baht still require facial recognition verification, and that all banks prioritize user security by continuously investing in and enhancing security measures. The association also acknowledged the increasing complexity of financial threats and is working closely with relevant agencies to establish more effective risk prevention and management guidelines.
The…
