Thailand Enacts Law Holding Financial and Digital Platforms Accountable for Online Scams
New emergency decree mandates banks, telecom operators, and social media platforms to share liability in technology-related fraud cases
Thailand has implemented an emergency decree effective April 13, 2025, assigning shared responsibility to financial institutions, telecommunications providers, and social media platforms for losses incurred by victims of technology-related scams.
The legislation aims to strengthen measures against cybercrime and enhance consumer protection.
Under the new decree, financial institutions are required to disclose information on accounts and transactions suspected of involvement in fraudulent activities.
They must also freeze suspicious accounts and report them to the Anti-Money Laundering Office (AMLO) to facilitate prompt investigations and potential victim compensation.
Telecom operators are mandated to screen and block short messages linked to scams, while the National Broadcasting and Telecommunications Commission (NBTC) is authorized to suspend services associated with fraudulent activities.
Entities failing to comply with these measures face penalties, including fines up to 500,000 baht.
Individuals responsible for non-compliance may be subject to imprisonment for up to one year and/or fines up to 100,000 baht.
Additionally, failure to properly register mobile phone subscribers to prevent scams can result in similar penalties.
The decree also addresses the misuse of personal data, stipulating that unauthorized collection, disclosure, or use of deceased individuals' data for scams is punishable by up to one year in prison and/or a fine of up to 100,000 baht.
In a related development, amendments to the digital asset business regulations now require foreign digital asset exchanges to obtain service licenses in Thailand before operating within the country.
This measure seeks to enhance oversight of digital asset transactions and prevent their exploitation in fraudulent schemes.
Between October 2023 and November 2024, Thailand reported over 400,000 cases of online crimes, resulting in damages exceeding 42 billion baht.
The enactment of this decree represents a significant step in the country's efforts to combat cybercrime and protect consumers in the digital landscape.
The legislation aims to strengthen measures against cybercrime and enhance consumer protection.
Under the new decree, financial institutions are required to disclose information on accounts and transactions suspected of involvement in fraudulent activities.
They must also freeze suspicious accounts and report them to the Anti-Money Laundering Office (AMLO) to facilitate prompt investigations and potential victim compensation.
Telecom operators are mandated to screen and block short messages linked to scams, while the National Broadcasting and Telecommunications Commission (NBTC) is authorized to suspend services associated with fraudulent activities.
Entities failing to comply with these measures face penalties, including fines up to 500,000 baht.
Individuals responsible for non-compliance may be subject to imprisonment for up to one year and/or fines up to 100,000 baht.
Additionally, failure to properly register mobile phone subscribers to prevent scams can result in similar penalties.
The decree also addresses the misuse of personal data, stipulating that unauthorized collection, disclosure, or use of deceased individuals' data for scams is punishable by up to one year in prison and/or a fine of up to 100,000 baht.
In a related development, amendments to the digital asset business regulations now require foreign digital asset exchanges to obtain service licenses in Thailand before operating within the country.
This measure seeks to enhance oversight of digital asset transactions and prevent their exploitation in fraudulent schemes.
Between October 2023 and November 2024, Thailand reported over 400,000 cases of online crimes, resulting in damages exceeding 42 billion baht.
The enactment of this decree represents a significant step in the country's efforts to combat cybercrime and protect consumers in the digital landscape.