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KTC and Royal Thai Police set a forum ‘Stay Ahead of Cyber Threats: Think Before You Click’

KTC has recently organized an informative forum to equip Thai consumers with knowledge to protect themselves against financial risks posed by cybercrime. The event was organized in collaboration with the High-Tech Crime Division of the Cyber Crime Investigation Bureau, Royal Thai Police, and highlighted examples of online fraud in various forms, provided guidance on detecting such scams, and shared preventive measures.

Rywin Voravongsatit, heads the Operations Control & Merchant Operations Division at Krungthai Card Public Company Limited (KTC), said that it is importance to protect against financial risks from cyber crime. With the shift to online financial transactions in the digital era, consumers enjoy greater convenience, but also face the increased threat of cyber crime.

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To ensure customer safety, KTC has developed an anti-corruption management system that prioritizes the protection of customer data. Educating consumers about the various types of online fraud, such as phishing, call center fraud, and scamming, is essential to effectively combat cyber crime.

One of the challenges posed by cyber crime is the ability of fraudsters to easily deceive victims via SMS or social media apps. For example, scammers may add a fake Line Official account and use voice phishing to trick victims into installing fraudulent apps. Once the scammers gain control over the victim’s smartphone, they can access mobile banking apps and transfer money to their own accounts.

To protect against this type of fraud, consumers are advised to download applications only from official app stores like App Store or Play Store. By staying informed and taking the necessary precautions, consumers can safeguard themselves against cyber threats and enjoy a secure online financial experience.

According to Noparat Suriya, Head of Investigation at KTC, there are four best practices that consumers can follow to prevent scammers. First, it is important to stay up to date with cyber crime cases from various media sources as scammers are always coming up with new tricks. Second, consumers should be skeptical of irresistible offers as scammers often use “free giveaway” traps. Third, it is important to stop and think before clicking on suspicious links that have not been previously requested, as phishing is often the start of the trap.

The SMS link may lead to a scammer’s fake Line account or may be embedded with malware. Fourth, consumers should double-check before clicking and not be fooled by tempting offers. Scammers are skilled at using mind games, such as using greed and fear to lure victims, including pretending to be a member of DSI, threatening the victim that the account is involved in money laundering, or offering free flight tickets.

Noparat also emphasized the importance of the device off-on function and notifications settings to prevent cyber fraud. He suggested turning off accessibility settings that could be exploited by scammers to remotely take control over the victim’s smartphone, and turning on notification settings for financial transactions via email or application to stay alert about every transaction.

He further advised disabling the smartphone’s signal or wifi connection as quickly as possible by pressing the Force Shutdown buttons in case of an attack. If the smartphone cannot be switched off, he recommended immediately removing the SIM card to disconnect from any network and reporting the incident to the bank.

For KTC cardmembers, he recommended downloading the secure “KTC Mobile” application, which has a 6-digit dynamic password feature, fingerprint scanning, or iris scanning for identity verification.

The app’s notifications make it easier for members to monitor all their card transactions and customize desired spending amount alerts, payment due date reminders, temporary card suspensions, credit limit settings, and requests for temporary credit limit increases.

Additionally, KTC has added a warning message when sending one-time passwords to remind members not to share them with anyone, reducing the risk of fraud.

The Royal Thai Government Gazette has recently released The Royal Decree on Measures for Protection and Suppression of Technology Crimes 2023, which outlines several key measures. These measures include implementing a process and system for suspending transactions on electronic money accounts in the event of a notice from customers, the police, or if suspicious activity is detected by the organization or reported by other business operators.

Additionally, the decree mandates the coordination with the Thai E-payment Trade Association to establish a process and system for exchanging electronic money account information and suspicious transaction data. Efficient incident notification channels via hotline, telephone, or electronic communication will also be implemented.

The decree assigns a coordinator to work with the police to facilitate information sharing and assist customers in resolving issues. Finally, the guidelines will be communicated to customers to ensure accurate and up-to-date information is provided to the company.

According to Pol. Maj.Teanchai Khemngam, Inspector of the Cyber Support Sub-division at the High-Tech Crime Division, Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police, the CCIB has been working closely with both government and private agencies to combat cybercrime.

KTC is one of the first private sector organizations that has taken steps to monitor and identify suspicious activity that may lead to fraud from scammers. The issue of online crime has evolved into many forms and poses a continuous and severe threat to the public’s confidence. Based on his experience, product trading scams are the most common type of case involving criminals.

Other types of cases include bank transfer scams, romance scams, various forms of investment scams, money lending scams, and money mule account scams, which violate The Royal Decree on Measures for Protection and Suppression of Technology Crimes 2023.

To protect oneself from online crime, Pol. Maj.Teanchai recommends not entering personal information in suspicious links or applications and installing applications only from the App Store or Play Store.

He also advises regularly updating the operating system and applications and staying informed about government news to reduce the chance of becoming a victim of fraud.

Victims of online scams can report cyber crimes through www.thaipoliceonline.com or by calling Tel. 1441 for advice.

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