On Jan. 31, Thai AML announced new regulation on banking security.
Thai AML held press conference on new regulation to enhance mobile banking security.
Follows Thai CB Dec. 2024 propose guide re banking security measures, see #235476.
Mobile Banking Regulation
Thai GVT has prioritized combating online financial crimes, particularly those involving call center scams and mule accounts, which are often used for fraudulent transactions.
Cleaning mobile banking regulation requires that the name of mobile banking account holder matches that of the mobile SIM card owner, in order to prevent misuse.
Authorities will conduct a verification process for phone numbers and bank accounts.
Effectiveness
The verification process associated with the regulation will begin from Feb. 1, 2025.