On Oct. 12, Thai CB issued digital fraud management requirements for SFIs.
Thai CB issued Circular 6410/2569, which introduces Notification 50/2569 on digital fraud management rules for six state-owned specialized financial institutions (SFIs).
SFIs must establish board-approved digital fraud management policies, assign senior management responsibilities, and regularly assess the effectiveness of fraud prevention measures.
They must strengthen KYC and CDD procedures, including enhanced checks for customers at risk of using mule accounts.
Plus, proactively monitor suspicious transactions using data analytics or AI and implement risk-based transaction limits, alerts, suspensions, and account restrictions.
Provide 24/7 fraud reporting channels, establish customer response timelines, promptly address restrictions affecting customers uninvolved in fraud, and provide compensation where institutional deficiencies are established or authorities direct it.
In addition, they must exchange fraud-related information, support investigations, promptly report incidents involving widespread customer losses or reputational damage to the Thai CB, and submit prescribed regulatory reports.
As well as regularly educate customers about digital fraud risks, particularly vulnerable groups, while Thai CB encourages customer fraud-awareness assessments.
Effectiveness
The notification is effective from Nov. 1, 2026.
The rules repeal the SFI-related provisions of Thai's CB Mar. 2023 fraud management policy (see #168150).
As well as its May 2024 circular on high-risk or abnormal accounts (see #214560), permitting proportionate application for lower-risk customers or transactions.
Regulators
Thai CB
Entity Types
Bank
Reference
Cir 6410/2569, 10/12/2026; Nt 50/2569, 11/1/2026; Nt ThorPorThor. ForTorThor. (01) Wor. 384/2567, 5/31/2024; Nt ForNorChor. (02) Wor. 224/2566, 3/29/2023; ESG
Functions
AML; Compliance; C-Suite; Fraud; Operations; Reporting; Risk; Social; Technology; Training
