Users share responsibility in financial fraud decree

Victims of financial crimes may be fully liable for damages if losses result from their own negligence under the new emergency decree, according to the Bank of Thailand.

- SOMRUEDI BANCHONGDUANG

According to Roong Mallikamas, the central bank’s deputy governor for financial institution stability, the regulator is scheduled to unveil detailed guidelines and conditions regarding shared responsibility for financial fraud next month.

The move follows the publication of the “Emergency Decree on Measures to Prevent and Suppress Technology Crimes (No.2)” in the Royal Gazette on April 12.

The new announcement will address issues such as identity theft prevention, the management of mule accounts, and the establishment of rapid incident reporting systems, she said.

Stakeholders across the digital financial transaction ecosystem — including telecom operators, social media platforms, financial institutions, e-money service providers, digital asset operators, and users — are all included under the new framework.