DES Ministry Initiates Verification of 106 Million Bank Accounts
The Digital Economy and Society Ministry has started verifying 106 million mobile bank accounts to prevent scams. Initial checks show 30 million accounts have mismatched registrations. The process will last 120 days, with exemptions for family members and company employees. Prepaid SIM card users must register by July 13 to prevent deactivation.
The Digital Economy and Society (DES) Ministry has begun verifying 106 million mobile bank accounts to identify those linked to scams.
DES Minister Prasert Chanthararuangthong announced that the verification process, which started on Monday, involves cross-referencing account holders' names with SIM card registration names.
Initial findings revealed that 30 million accounts are tied to mismatched SIM card registrations.
The focus is initially on mobile app-opened accounts, and the entire process is expected to be completed by October, taking about 120 days.
Exemptions will apply for accounts held by family members, estate executors, and employees using company SIM cards.
The DES Ministry also urged mobile operators to avoid increasing fees for SIM card changes related to banking.
Further, the government will collaborate with banks to limit the number of accounts a client can open and ensure proper registration for prepaid SIM card users by July 13 to avoid deactivation.
DES Minister Prasert Chanthararuangthong announced that the verification process, which started on Monday, involves cross-referencing account holders' names with SIM card registration names.
Initial findings revealed that 30 million accounts are tied to mismatched SIM card registrations.
The focus is initially on mobile app-opened accounts, and the entire process is expected to be completed by October, taking about 120 days.
Exemptions will apply for accounts held by family members, estate executors, and employees using company SIM cards.
The DES Ministry also urged mobile operators to avoid increasing fees for SIM card changes related to banking.
Further, the government will collaborate with banks to limit the number of accounts a client can open and ensure proper registration for prepaid SIM card users by July 13 to avoid deactivation.
