Banks, telecommunication, and social media companies will be held accountable for financial losses under a constitutional amendment.
PUBLISHED: 28 Jan 2025 at 14: 58
A constitutional change that will keep banks, phone companies, and social media owners accountable for losses caused by call-centre scams has been approved by the Thai authorities.
In addition to an emergency decree on measures to combat tech violence, the Ministry of Digital Economy and Society proposed the shift. The government approved it on Tuesday, said secretary Prasert Jantararuangtong.
Financial institutions, telecommunication, and social media companies would be subject to the amendment’s provisions if it was discovered that their failure to follow anti-scam laws caused economic harm to the general public, the minister said. He did not provide more details about how role may be determined.
Additionally, the National Broadcasting and Telecommunications Commission and telecommunication providers are required to suspend SIM cards that are suspected of being used by fraud. Additionally, it makes it possible for officials to gain stolen wealth to sufferers without having to wait for instances to be settled in court.
Additionally, a maximum sentence of 5 million baht and/or 5 years in prison has been increased for revealing private information without assent.
In order to stop scammers from turning stolen money into online money, the law also forbids trading online assets through peer-to-peer lending platforms.
According to Mr. Prasert,” when the amended decree comes into effect, it does help reduce technology crime and damages to the general public.”
The article would be reviewed by the Council of State, the government’s legal finger, according to government official Jirayu Huangsub, who stated that it would go into effect right away after it was published in the Royal Gazette.
The process may take no longer than 30 time, he said.