Bank crime squads target fraudsters | Bangkok Post: news

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Bank crime squads target fraudsters

Finance offences too big for cops to handle alone

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As banking-related crime continues to rise, financial institutions are realising they can no longer simply rely on the police to control increasingly sophisticated networks of criminals. 

To tackle the issue, banks are taking matters into their own hands and setting up squads to assume the role of police investigators. Siam Commercial Bank is among the institutions getting involved, and has formed an “anti-fraud team” to hunt criminals.

The bank is inviting retired police to work for the team to boost its investigative powers, according to Pongsit Chaichutpornsuk, executive vice-president for financial crime and security services.

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