Banks pay victims of scams back

By Editorial
Posted in News from Thailand
Tags: , ,
October 20, 2021

Thai Banks have confirmed that victims of unauthorized online cash withdrawals using credit and debit cards will be refunded. This decision came after a spate of unauthorized online transactions.

Payong Srivanich, president of the Thai Bankers' Association (TBA), said the TBA has agreed with all banks to refund money to victims of this debit card scam within five business days. In the case of credit cards, the banks cancel suspicious transactions and will not charge interest or fees from cardholders.

The banks are going to close the accounts of the credit cards used in these transactions and open new ones without charging customers.

During October 1-17, 10.700 cards were involved, of which 5.900 were credit cards, representing a transaction value of 100 million baht. The remaining 4.800 are debit cards with a transaction value of 31 million baht.

The Bank of Thailand and the TBA held a joint press conference on Tuesday to discuss more details of the scam.

Source: Bangkok Post

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