Banking association plans new centre to detect criminal transactions
The Thai Bankers’ Association is discussing how to fast track the establishment of a centre that will monitor transactions linked to criminals, its chairman said.
Payong Srivanich, who is also president of Krung Thai Bank, said association members were in advanced talks to set up an interbank agency that would function as a “central fraud registry”.
The centre will monitor and intercept deceptive and fraudulent transactions, Payong said.
Association members are well aware that their clients face a heightened risk of being deceived into making transactions by criminals, but it would be too costly for each bank to implement its own preventive measures, Payong said.
The new centre will be distinct from the Thailand Banking Sector CERT whose 15 member banks focus on hacking threats, he added.
The new centre’s focus will be criminally-linked transactions.
Payong said the association wanted to open the new centre as soon as possible, but the process was complex.
“Setting up the centre will require cooperation from several agencies,” Payong explained.
The centre will also need to be linked to the National Interbank Transaction Management and Exchange.
“So, I can’t say how quickly or slowly the centre will be set up,” he said.
