BOT to work with IMF and World Bank on blueprint to tackle digital fraud and scammers
BOT Governor Vitai Ratanakorn says Thailand will use the IMF-World Bank 2026 Annual Meetings to push “safe and inclusive digital finance”, tackle digital fraud and strengthen cyber security, warning global cybercrime causes around US$1.03 trillion in economic losses.
Bank of Thailand (BOT) Governor Vitai Ratanakorn said the central bank will work with the International Monetary Fund (IMF) and the World Bank Group (WBG) to curb scammers and reduce digital fraud, describing it as a global problem causing economic damage on a “trillion-dollar” scale.
Speaking at the launch event for Thailand’s hosting of the 2026 Annual Meetings of the IMF and the World Bank Group, Vitai said the BOT is preparing to strengthen the resilience of the financial system so it is safe, secure and accessible—under the theme “Safe and Inclusive Digital Finance for Financial Wellbeing”—alongside its mandate to maintain macroeconomic stability.
He said the work rests on three pillars: advancing efforts to reduce digital fraud, strengthening cyber security, and improving digital ecosystem readiness to raise financial wellbeing for all groups of people.
Vitai said digital fraud has become a source of global concern comparable to geopolitics and environmental issues, because cyber threats directly affect people’s daily lives. He cited estimates that cyber-related fraud and threats cause economic losses of around US$1.03 trillion, with more than two-thirds of the damage occurring in Asia.
While the issue is widely recognised worldwide, he said international cooperation, research and analysis, and effective operational guidelines to manage the problem remain limited. Thailand has therefore held discussions with the IMF and the World Bank to draw on existing policy experience and lessons to reduce digital fraud risks, protect consumers and maintain confidence in Thailand’s financial system.
During the IMF-World Bank meetings, the two institutions are expected to play a role in sharing knowledge to help member countries develop digital financial systems that are stable, safe and inclusive. The meetings will also provide a platform for members to pool ideas and policy perspectives to develop a blueprint for tackling the problem and advancing solutions.
Vitai added that Thailand also plans to use the opportunity to showcase the country’s economy, society and culture, serving as a bridge linking the Thai economy with the global economy.
