Mobile banking to operate normally during verification

The National Broadcasting and Telecommunications Commission (NBTC) clarified today that mobile banking services will continue to operate as usual on May 27.

The NBTC, in collaboration with the Anti-Money Laundering Office (AMLO) and commercial banks, aims to ensure that mobile numbers linked to bank accounts are properly verified to tackle issues related to fraudulent SIM cards and mule accounts.

The NBTC explained that the current process of verifying mobile banking-linked SIM cards with bank accounts is ongoing. As of today, mobile banking services are unaffected and will remain operational.

This initiative stems from a request by AMLO and banks, asking the NBTC to act as an intermediary in coordinating with mobile service providers to verify this information. This effort is part of a broader government policy aimed at combating online transaction fraud.

Banks are responsible for compiling account information and associated mobile numbers used for mobile banking. This data is sent to AMLO, which then forwards it to the NBTC. The NBTC will segregate the data by network and coordinate with mobile service providers to re-verify the information before sending it back.

The NBTC has received confirmation from AMLO that exceptions can be made if there are sufficient reasons to justify the necessity of the service. This decision lies with the banks and may include scenarios such as parents setting up mobile banking for their children or older family members, or organisational numbers with clear identification.

Banking details

Soon, the NBTC will hold discussions with mobile service providers to facilitate the process for customers who need to update their account holder’s name to match their mobile banking details. The aim is to minimise any inconvenience to the public by offering suitable promotional programmes that are both practical and beneficial.

This policy reflects the concerted efforts of various agencies in Thailand to tighten security measures around online banking and reduce the risks associated with fraudulent activities. The NBTC’s role as a central coordinator ensures that the verification process is streamlined and effective, thereby protecting consumers and enhancing the integrity of the mobile banking system.

By involving multiple stakeholders, including banks and mobile service providers, the initiative aims to create a secure environment for conducting online transactions. This multi-layered approach not only addresses immediate security concerns but also sets a precedent for future collaborations between different sectors to safeguard digital financial services.

The NBTC is committed to ensuring that the verification process is as smooth and user-friendly as possible. With ongoing consultations and adjustments, the commission hopes to implement this policy effectively without causing undue burden to the public, reported Sanook.