Connect with us

Crime

Cyber fraud case renews talks over the safety of online banking

Published

 on 

After at least 40,000 people in Thailand were victims of online banking cyber fraud, the Cyber Crime Investigation Bureau is renewing talks over the safety of such online transactions. The losses recently incurred by those using online banking are thought to be over 10 million baht after hackers stole credit and debit card information.

Kornchai Klayklueng, the commissioner of the CCIB, says the initial investigation revealed that hackers possibly used 3 channels to steal such information. The channels included: sending SMS to trick people into giving out their personal information, card holders who had linked their bank accounts with online applications, and stealing information from card holders making daily transactions at shops or gas stations.

The Bank of Thailand and the Thai Bankers’ Association issued statements late on Sunday that their initial investigations pointed towards the mobile banking system as not being hacked. They also said banking applications were not found to have illegally transferred customers’ money. But, the BOT then said the loss was estimated at 130 million baht and promised to reimburse customers of the losses and suspend any hacked cards. Then, the BOT and other commercial banks said many accounts showed numerous, suspicious transactions from online purchases abroad.

Niwet Arphawasin, commander-in-chief at the Technology Crime Investigation and Analysis Division, said that the recent fraud was achieved by hackers finding a loophole in the payment system. He also noted that some banks won’t notify customers if the amount taken illegally was nominal. As the new case featured many customers saying their accounts had illegal withdrawals of less than 100 baht, the loophole found seems to hold true to recent victimisations. Prinya Hom-anek, a cybersecurity expert, advised people to use a credit card instead of a debit card for future transactions.

“Credit card holders have to pay the money later, so they can refuse to make payments for goods or services they did not buy. In the case of debit card holders, the money is deducted from their accounts right away, making it difficult for them to make a case for refund when illegal transactions take place.”

Prinya also advised customers to not link their debit cards to their main savings accounts. Instead, he says they should create a separate bank account with a smaller balance. Furthermore, he says those who do not subscribe to SMS alerts on their account transactions put themselves at a higher risk of being a victim of fraud.

SOURCE: Thai PBS World

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Ann Carter is an award-winning journalist from the United States with over 12 years experience in print and broadcast news. Her work has been featured in America, China and Thailand as she has worked internationally at major news stations as a writer and producer. Carter graduated from the Walter Williams Missouri School of Journalism in the USA.

Follow Thaiger by email:

Press Room25 seconds ago

BKFC Asia 4: The Big Bash announced for December 10

Pattaya7 mins ago

Pattaya hotel thieves snatch valuables from Thai and Dutch tourists

Thailand7 mins ago

Thai gold necklace thief escapes arrest by swimming to Myanmar

Sponsored1 hour ago

What makes Tops Fine Food the ideal place to shop for premium food in Bangkok

China59 mins ago

People of China protest on streets over mainland’s zero-Covid policy

World1 hour ago

Iranian Kurdish football player arrested after speaking out

Tourism1 hour ago

Thailand’s monkey feast festival in Lopburi attracts raucous crowd

Join the conversation on the Thaiger Talk forums today!
Travel2 hours ago

Eat, pray, sleep Bali-Style- how I escaped the box

Thailand3 hours ago

World Cup to be shown in Thai prison | GMT

Crime18 hours ago

Angry woman sets fire to her boyfriend’s Pattaya room

Thailand19 hours ago

Explore Thailand’s least visited city in the South!

Pattaya20 hours ago

Newborn baby found in Pattaya trash can

Crime20 hours ago

Poll examines sexual violence causes, definitions

Drugs20 hours ago

Four members of drug gang arrested in Nakhon Si Thammarat

North East21 hours ago

Military mum calls for justice over slain son

Tourism21 hours ago

Why aren’t tourists returning to Khao San Road?

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending