Bank of Thailand, Thai Bankers’ Association and the Association of State Financial Institutions Hand in hand to raise the level of financial fraud management

The Thai Bankers’ Association and the State Financial Institutions Association have partnered to boost the management of risks related to financial fraud. The Thai central bank has issued measures to ensure that all financial institutions comply with consistent standards for preventing, detecting and responding to fraudulent transactions in the best interests of the banking public. As part of the plan, financial institutions will implement methods such as exchanging information about suspected transactions and setting up hotlines for reporting cases. Institutions will also cooperate with government agencies to prepare a response to possible technology-related criminal acts.

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