The Thai government has approved legal changes that will hold banks, telecommunications network operators and social media owners liable for losses caused by call center scams if the cause is negligence or recklessness.
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| Thailand passes amended law to combat cybercrime. (Illustration photo. Source: CN) |
In a statement on January 28, Thailand's Deputy Prime Minister and Minister of Digital Economy and Society, Prasert Jantararuangtong, said the country's Cabinet has just approved a proposal to amend an executive order on measures to tackle cybercrime.
According to Mr Prasert, under the amendment, financial institutions, telecommunications companies and social media will be penalized if they “fail to comply with anti-fraud measures” leading to financial losses to the public.
The amendment also requires telecom operators and the National Broadcasting and Telecommunications Commission to suspend SIM cards suspected of being used for fraudulent purposes. In addition, authorities will return stolen money to victims without having to wait for the case to be resolved in court.
In addition, the penalty for disclosing personal data without consent has been increased to a maximum of 5 million baht and/or 5 years in prison. The previous penalty was only 1 million baht and 1 year in prison.
The new law also prohibits the trading of digital assets through peer-to-peer lending platforms to prevent the laundering of stolen money into digital currencies. “When the revised decree comes into effect, it will help reduce cybercrime and reduce damage to the public,” said Deputy Prime Minister Prasert.
According to the Bank of Thailand, in the past two years alone, many customers have been scammed online with total losses of more than 60 billion baht.
The State Council, the government's legal body, will review the amended law and the new law will come into effect immediately after it is published in the Royal Gazette. The entire process usually takes no more than 30 days.
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