Bangkok: The Bank of Thailand and the National Broadcasting and Telecommunications Commission (NBTC) are intensifying their efforts to curb illegal money and scammers.
According to Thai News Agency, the Bank of Thailand (BOT) has stepped up measures to tackle illegal money flows by monitoring suspicious transactions and tightening controls on financial service providers under its jurisdiction. Concurrently, the NBTC has conducted inspections of mobile phone towers and signals in Mae Sot to ensure compliance and address potential security risks.
Mr. Vitai Ratanakorn, Governor of the BOT, stated that the bank is enhancing its processes for monitoring and investigating suspicious financial activities to prevent and swiftly address issues related to gray capital and illegal system usage. The BOT’s approach includes enhanced customer due diligence, requiring banks to focus on suspicious transactions, especially those linked to online gambling or scams, and report any discrepancies. The BOT plans to revise regulations to support the Anti-Money Laundering Office (AMLO) more effectively.
Additionally, the BOT is strengthening its oversight of financial service providers, including money transfer agents, money changers, and e-wallet providers, to investigate transactions potentially linked to illegal activities. This comprehensive monitoring aims to keep pace with the evolving threats of financial fraud.
The NBTC, on the other hand, has deployed officials to inspect mobile phone towers and signals in Mae Sot District, Tak Province. Using drones to measure signal strength, the NBTC aims to maintain high-quality mobile service and prevent cross-border signal issues that could facilitate technological crimes. This initiative aligns with directives from the National Anti-Technology Crimes Commission to crack down on call center scams.
Previously, the NBTC had implemented measures to suspend telecommunications services in high-risk border areas and issued an announcement on preventing technological crimes, effective since August 30, 2015, establishing eight measures to protect the public from technological threats.