Thai AML Better Mobile Banking Security

Published on: Feb 4, 2025

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.
Regulators
Thai AML
Entity Types
Bank; MSB
Reference
Mt, PR, 1/31/2025
Functions
AML; Compliance; Financial; Fraud; Legal; Operations; Risk; Technology
Countries
Thailand
Category
AML FIU
State
N/A
Products
Banking
Rule Type
Final
Regions
AP
Rule Date
Jan 31, 2025
Effective Date
Feb 1, 2025
Rule ID
242189
Linked to
Reg. Last Update
Jan 31, 2025
Report Section
AML & Enforcement