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News Forum - Digital literacy a must for bank card holders after recent cyber fraud incident


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In light of the recent cyber fraud incident, in which 40,000 people were victimised in Thailand, a cybersecurity expert is emphasizing the need for digital literacy. Prinya Hom-anek, president of the ACIS Professional Centre, an IT security consulting service, says bank card holders are the most vulnerable in the payment ecosystem. This vulnerability sees criminals targetting the group first, as many still aren’t aware that debit and credit cards can be used to make online purchases. Such digital literacy includes receiving and monitoring SMS notifications when a transaction is made on one’s account, as the recent incident saw criminals succeed […]

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Hmm...

Perhaps if the government spent more time building protection for on-line commerce and less time trying to prosecute people for having 'Bad' opinions, then this sort of thing would be rarer.

Just a thought...

 

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The banks have been luring customers onto digital platforms for over 35 years now. Luring us by saying "It'll be cheaper, more convenient", while culling staff all over the place. It all began with ATMs...moved on to credit cards and internet banking, online EVERYTHING. Saying customers "need to be tech savvy" as an absolute cop out on responsibility. You want us to use this tech, then it's incumbent upon banks (not their clients) to educate their clients, both in it's use and on the inherent dangers. It is also incumbent on banks to protect their clients against fraud and reimburse their clients when the banks fail to protect their clients against loss. 

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Banks as businesses are always looking at ways to cut costs and improve profit margins for their shareholders. So clients....it's time to "rattle" the cages of these money mogels by putting the onus back on them to do their duty to protect you. If they can't....then switch to a Bank that doesn't take you for granted. It is a super competitive world. Don't be afraid to demand a better deal. The Bank hopes you won't, but will lose your business and the business of many others, if they don't. They will have to front up to their shareholders, because they didn't take care of you! The only good business is a business that strives for a Win/Win/Win. Win for the client/ Win for the community/ Win for the shareholder.

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Prinya says there are 3 crucial cybersecurity trends that will start in 2022. 

In what year are they living? Since the begin of online banking, there have been cases of people stealing money through that way. 

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14 hours ago, Jason said:

Banks as businesses are always looking at ways to cut costs and improve profit margins for their shareholders. So clients....it's time to "rattle" the cages of these money mogels by putting the onus back on them to do their duty to protect you. If they can't....then switch to a Bank that doesn't take you for granted. It is a super competitive world. Don't be afraid to demand a better deal. The Bank hopes you won't, but will lose your business and the business of many others, if they don't. They will have to front up to their shareholders, because they didn't take care of you! The only good business is a business that strives for a Win/Win/Win. Win for the client/ Win for the community/ Win for the shareholder.

Retail Banking is not where the banks make their money. Mostly it is a means of community service provided by Banks to the public for a comprehensive services. As we move along to a digital age, people also need to learn and evolve.

Banks' priority are in private banking, corporate banking and investment banking. They have enough cash in their holding and do not need small time savings account people like me. 

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