Thailand’s House of Representatives has passed a new Royal Decree aimed at tackling the growing threat of online scams, with a key provision requiring banks and telecommunications providers to compensate victims of fraud.
The decree was approved on 28 June with 452 votes in favor, none opposed, and two abstentions.
Under the new law, financial institutions and telecom operators will be held jointly accountable if they fail to prevent fraud linked to suspicious accounts or phone numbers.
This includes requirements for more stringent screening processes and quicker action when fraud is detected.
Deputy Prime Minister Prasert stated that Thailand’s 2023 Royal Decree on combating technological crimes has become insufficient to address the evolving tactics of call center gangs.
The revised legislation aims to modernize the legal framework by speeding up refunds to victims, enhancing the efficiency of freezing fraudulent accounts, establishing joint responsibility for banks and telecom providers when they fail to take proper action, and strengthening regulations on suspicious transfers involving digital assets.
Wiroj Lakkhanaadisorn, Member of the House of Representatives of Thailand, emphasized that call center gangs are no longer just scammers deceiving individuals, but criminals causing widespread social harm and undermining the national economy.
The new decree is expected to strengthen the oversight powers of agencies responsible for payment systems and telecom services, ensuring faster intervention and fairer redress for those affected by cyber fraud.