Banks, NBTC agree on 5 step m-banking security plan

The National Broadcasting and Telecommunications Commission hosted a meeting with representatives from the Bank of Thailand, the Thai Bankers Association and the Telecommunications Association of Thailand.

The participants have agreed on a five-step plan to tighten KYC rules to increase confidence in eBanking and mobile banking in the run up to the launch of Thailand’s Promptpay national mobile payments system.

1. The NBTC, BOT, TCT and mobile operators will create a set of KYC rules. The NBTC will order telcos to follow them strictly and will evaluate compliance with the new rules.
2. Banks and mobile operators will launch an awareness campaign for people to tell their banks when their mobile phone or SIM is lost.
3. If it can be proven that the customer has told their bank that their SIM has been lost, they will not be held responsible for monetary losses.
4. A system will be set up for banks to be notified automatically when new SIMs are issued. Until such a system is in place, banks will give telcos a watchlist of telephone numbers that are linked to Internet banking, mobile banking or Promptpay accounts for their special attention.
5. Issuing new SIM cards for accounts linked to bank accounts can only be done in person by the account holder and not via proxy.

Meanwhile, NBTC Secretary General Takorn Tantasit has banned the import of all Galaxy Note 7 phones due to their exploding batteries. Phones from affected batches are immediately banned from being imported and the import of new note 7 batches can only resume once Samsung provides the NBTC with satisfactory electrical and safety test results.