Mobile Banking Shake-Up: Thai Users Face Security Check Deadline

 

Thai mobile banking users are being urged to verify their identity by April 30th as part of a government crackdown on online fraud.

 

Deputy Prime Minister and Digital Economy and Society Minister Prasert Jantararuangtong announced the measures, which require those flagged by banks via their mobile apps to confirm their details.

 

Failure to do so could lead to account restrictions.

 

The move, spearheaded by the Technology Crime Suppression Committee, aims to ensure that mobile banking usernames match the registered owners of the corresponding mobile phone SIM cards.

 

This is seen as a crucial step in hindering criminals who exploit discrepancies in user information.

 

The first phase of the account verification process, overseen by the Anti-Money Laundering Office (AMLO), involves banks checking user phone numbers against mobile network operator records.

 

Users are being categorised based on whether their details match (Y), no registration is found (P), or the information doesn't match the mobile banking user (N).

 

Those in categories P and N who registered since 2022 must update their information by the April 30th deadline.
 

 

 

Prasert clarified Sunday that customers whose mobile banking username doesn't match their SIM card owner details, but who haven't received a notification, can continue using their accounts as normal for now.

 

The directive primarily affects two groups who opened accounts since 2022: those whose phone number registration doesn't match their mobile banking details, and foreign nationals whose phone number owner details don't align with their mobile banking username.

 

The second phase, commencing after April 30th, will see banks provide updated user data to mobile operators for further verification.

 

In May, around 2.5 million accounts – those with a 'P' status (approximately 1.8 million) and foreign nationals with an 'N' status (around 700,000) who registered since January 1st, 2022 – will be re-checked.
 

 

 

AMLO, via the Thai Bankers' Association and the National Broadcasting and Telecommunications Commission (NBTC), will coordinate the data transfer and verification process, with banks expected to begin suspending non-compliant accounts in June.

 

Users who visit their bank to update their details or those with a 'P' status who have already informed their bank of a new, matching phone number will have their status updated accordingly, concluding the process for them.

 

However, those with a 'P' status who refuse to update their number, or foreign nationals with an 'N' status who fail to verify their identity, will have their mobile banking services suspended until they comply.

 

"These enhanced mobile banking security measures are to block avenues for criminals by ensuring user names match mobile SIM card owners," Prasert emphasised. "This is part of a joint effort between the Ministry of Digital Economy and Society, NBTC, AMLO, banks, and mobile network operators to prevent online scams against the public. I urge mobile banking users who have received notifications via their bank's app to urgently verify their status correctly by this April 30th."