Starting 27 May, users of mobile banking services in Thailand must ensure that the name registered with their SIM card matches the name on their bank account. This crackdown targets over a million "mule accounts," used fraudulently.
The National Broadcasting and Telecommunications Commission (NBTTC) advises users to dial *179*ID number# to verify their registration details. If the names do not align, mobile banking services will be blocked until corrections are made at a service centre.
Previously, it was possible to have a bank account registered under one name and use a SIM card registered under another name. However, due to increasing incidents of "mule accounts" and fraudulent activities, the government has introduced new regulations.
Minister of Digital Economy and Society, Mr. Prasert Chanratwongthong, emphasised that these measures are essential for curbing financial fraud. If mismatches are detected, a notification will be sent through mobile banking apps, advising users to rectify the information. If not corrected within the given timeframe, the bank account remains usable, but mobile banking services will be inaccessible.
Currently, Thailand has 106 million mobile banking accounts, with an estimated 30 million having mismatched registration details. The government aims to shut down about 100,000 mule accounts each month through these measures.
General Nathorn Phosunsorn, head of NBTTC's legal committee, stated that the agency will review and match data from commercial banks and the Anti-Money Laundering Office to identify discrepancies. The entire verification process is set to be completed within 120 days.
Thus, mobile operators, banks, and NBTTC are jointly working to notify and update account details to prevent fraudulent activities effectively. The government is determined to tighten security and protect citizens from online crimes.
Picture courtesy: Bangkokbiznews
-- 2024-05-27
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