Daranee Saeju, Assistant Governor Payment Systems Policy and Financial Consumer Protection Group of the Bank of Thailand (BOT) revealed that due to the case where a criminal stole credit cards to pay for goods and services, the central bank has ordered commercial banks and credit card provider to promptly investigate, take care, and compensate the customers for any damage from such case.
In the credit card case, cardholders do not have to pay for any purchase made by criminals and the interest. As for the debit card, the bank has to return the money to the cardholder according to any payment made within five days after the payment was found to not be from the holder, or the holder did not partake in it. Commercial banks and credit card providers need to strictly follow the guidelines accordingly.
Furthermore, the BOT ้has urged service providers to monitor vulnerable stores to prevent them from being used as payment methods for illegal businesses. Service providers need to have a method of identifying and proving identities to filter, assess risk, and continuously monitor the store’s risk and activity, if a store is involved in providing any illicit business, the service provider needs to terminate the services and pursue legal action against the perpetrator in accordance with the law.
