Cyberfraud revives debate on ways to make online banking safer

13 Sept 14:10 Key points summarised by AI

Over 40,000 individuals suffered an estimated Bt130 million in losses from cyberfraud, primarily through hacked credit and debit cards, prompting renewed calls for enhanced online banking security.
Cybercriminals exploited vulnerabilities including linked online applications, SMS phishing, and data harvesting from daily transactions, with a key loophole being banks' failure to report small-value purchases.
The Bank of Thailand (BOT) and commercial banks reassured the public that mobile banking systems were not hacked, attributing losses to suspicious online purchases abroad, and committed to reimbursing affected customers.
Experts recommend proactive measures such as prioritizing credit cards over debit cards for better fraud protection, creating separate low-deposit accounts for debit card use, and subscribing to SMS transaction alerts for timely scrutiny.

New home loan scheme aims to boost property sector with Bt125 billion

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.