Mr. Rywin Voravongsatit, Head of Operations Control & Merchant Operations Division, "KTC" or Krungthai Card Public Company Limited revealed, "Financial transactions have migrated from offline to online during this digital disruption era. As a result, consumers' lives have been made convenient. However, at the same time, the ongoing silent threat of cyber crime today is closer than what consumers are aware of. Therefore, you should think before you click on every financial transaction. KTC as a leader in the consumer finance business has continuously studied and developed an effective anti-corruption management system. Prioritizing the safety of customer data is key so members can confidently and safely make financial transactions. Protection from various fraud threats will be even more efficient if cardmembers and consumers are equipped with the validated knowledge and clear understanding, and protect themselves by taking correct steps with KTC."
"At present, types of cyber threats include 1) Phishing or asking for credit card information and OTP when making an online purchase; 2) Phishing or asking for personal information and OTP to take control over the victim's apps or Mobile Banking; 3) Call Center Fraudsters who trick the victim into transferring money by impersonating organizations such as DHL, DSI, police stations, etc., and 4) Scammers who trick the victim to click on a link to download a program so as to remotely control the victim's smartphone."
"Personality traits of fraudsters have been critical. As consumers are increasingly using smartphones to make transactions, it creates a loophole for scammers to easily trick victims via SMS or social media apps. This includes adding a fake Line Official account, then a voice phishing luring victims to install fraud apps which are mostly Android, and tricking the victim to create an access code which mostly is the same code as victim's other mobile banking apps. After taking control over the victim's smartphone, the system screen will be frozen; and cannot be closed or exited. During this process, the scammers will hack into the victim's Mobile Banking apps on the device using the same code earlier received during the setting up stage. Lastly, the scammers will successfully manage to transfer money to the destination account. To stay safe, it is advised that all application download should only be done via the App store or Playstore."
Mr. Noparat Suriya, Head of Investigation, "KTC," stated, "The 4 best practices to prevent scammers are: 1) Stay up to date with cyber crime case from various media because scammers endlessly come up with new tricks; 2) Always be skeptical with irresistible offers and nothing comes for free. Scammers often comes in "free giveaway" trap; 3) Stop and think before clicking on suspicious links which you have not previously requested. Phishing is the start of the trap. The SMS link often leads to scammer's fake Line account or the link may be embedded with malware. 4) Double-check before clicking and don't be fooled by tempting offers. Scammers are good at mind games using greed and fear to lure victims. This includes pretending to be a DSI member, threatening the victim that the account is involved in money laundering, or tempting the victims with free flight tickets."
"Another important practice is the device off-on function and notifications setting. In any cases that you become a victim, functions that should be turned off are accessibility settings that block undesirable access for scammers to remotely take control over the victim's smartphone. Functions that must be turned on are notification settings for financial transactions of mobile banking via email or application so you can be alert from every financial transaction. Furthermore, disabling the smartphone signal or wifi connection as quickly as possible by pressing the Force Shutdown buttons. If the smartphone is unable to be switched off, immediately remove the SIM card to disconnect from any network then report to your bank at once."
"For KTC cardmembers. it is recommended that members are to download 'KTC Mobile' application. Our KTC mobile application is safe and secure with a 6-digit dynamic password feature for identity verification or a fingerprint scanning or iris scanning for Samsung Galaxy smartphones users. On top of this, the app notifications makes it more convenient for all card transactions. Cardmembers can also customize the desired spending amount alert, set a payment due date reminder, and perform other services, such as temporary card suspension, setting a credit limit, and requesting a temporary credit limit increase by themselves. In addition, KTC has added a warning message when sending the one-time password or OTP to remind members not to share the OTP with anyone to reduce the risk of fraudulent."
"Recently, The Royal Thai Government Gazette has announced The Royal Decree on Measures for Protection and Suppression of Technology Crimes 2023. Key points include 1. Put in place a process and system to suspend transactions on electronic money accounts in cases where there is a (1) notice sent by customers (2) notice sent by the police or (3) if the organization detects suspicious transactions by themselves or was notified by the bank or other business operators, as well as communicating to employees within the company for awareness and action alignment. 2. Put in place a process and system for exchanging electronic money account information and suspicious transactions by coordinating with the Thai E-payment Trade Association, 3. Efficient incident notification channels via hotline, telephone, or electronic, 4. Assign a coordinator with the police to support information facilitation and assist customers in solving problems, and 5. Inform customers about the guidelines in order to provide accurate information to the company."
Pol. Maj.Teanchai Khemngam, Inspector of Cyber Support Sub-division, High-Tech Crime Division, Cyber Crime Investigation Bureau (CCIB ), Royal Thai Police, stated, "The Cyber Crime Investigation Bureau has continued to work closely with government and private agencies. KTC is one of the first private sector organizations that prioritized the surveillance and monitoring of suspicious activity that may lead to fraud from scammers. Currently, online crime has evolved into many forms and is now an issue that continuously and severely disrupts and affects the confidence of the public sector. Based on my personal work experience, the type of case with the highest number of criminals is the product trading scam. We have encountered many alternative cases such as the bank transfer scam trick to earn income from activities, romance scam, online investment scams in various forms, money lending scam where the victim ultimately don't receive money, and being hired to open a bank account or allow others to use a bank account (money mule account), which violates The Royal Decree on Measures for Protection and Suppression of Technology Crimes 2023. Here are some simple ways to spot and protect yourself from online crime: 1) Do not enter personal information in suspicious links or applications. Install applications from the App Store or Play Store only; 2) Always update the operating system of the phone and applications; 3) Constantly follow the news from the government and alert people close to you to reduce the chance of becoming a victim of fraud. Those who have fallen victim to a scam can report cyber crimes through www.thaipoliceonline.com or get advice by calling Tel. 1441.
Source: Krungthai Card