Cyber Police Step Up their Investigation into Online Bank Fraud

Cyber Police in Thailand have stepped up their investigation into Online bank fraud after about 40,000 people had lost at least 10 million baht because of unauthorized transactions.

The Cyber Crime police are in talks with the Bank of Thailand and the Thai Bankers’ Association to find a solution to unauthorized banking transactions.

Initial checks found around 40,000 people lost money through online transactions and the majority of people didn’t realize their money was being withdrawn. The perpetrators withdrew small amounts repeatedly.

Cyber Crime police said such withdrawals are possible if the perpetrators managed to get ahold of people’s bank card details. The details are often stored by online retailers and websites.

Police suspect multiple gangs are responsible for committing the online banking crimes. Saying they use a variety of methods to commit such offences.

Bank of Thailand Warns Over Rising Online and Digital Fraud

Some gangs troll for their victims’ details by sending out text messages asking them to fill in their personal details in exchange for discounts and other perks. Others create survey’s on social media sites to gain personal information.

The police have warned the public to not fill in their personal details on online forms. Above all, one that came from links to unknown senders.

The Cyber Police said they will hold discussions with the Bank of Thailand and online vendors to find solutions to prevent further fraud. The Bangkok of Thailand is working with banks to make the registration of online shops mandatory. Furthermore, issuing alerts when suspicious withdrawals are made.

Meanwhile, Thailand’s Prime Minister Prayut Chan-o-cha has instructed all agencies to take action immediately to put an end to the problem.

On Sunday, the Bank of Thailand and Thai Bankers’ Association issued a joint statement saying Thai banks would accept responsibility for all unauthorized online withdrawals.

The statement also stated no commercial banking systems had been hacked. Thai Bankers’ Association said the irregular transactions were for payment to online vendors registered outside Thailand.

Source: Bangkok Post