Owners of mobile bank accounts can continue to use the services as normal while authorities check to match the names of account holders and phone subscribers, aiming to clamp down on bank accounts used by fraudsters, says the Ministry of Digital Economy and Society (DES).
The crackdown, which began on Monday, raised concerns among account owners who have phone numbers registered in different names, but have not engaged in illegal activities.
DES Minister Prasert Jantararuangthong and authorities working on controlling so-called mule accounts have assured users that their access to online banking would not be affected during the data examination process, which is expected to take 120 days.
The DES, the Thai Bankers’ Association, the National Broadcasting and Telecommunications Commission (NBTC) and the Anti-Money Laundering Office (Amlo) have formed a joint panel to address the increase in mule accounts.
They clarified their action plans yesterday, following confusion and concern over the impact on mobile banking services.
“The 120 days is the period required for the banks, the NBTC, Amlo and mobile service providers to conduct the data examination,” said Mr Prasert.
The panel emphasised that the measures would not impose an additional burden on people, particularly in terms of fees for new mobile packages that are higher than those currently in use.
Mr Prasert said there are roughly 106 million mobile banking accounts in Thailand, with around 30 million not registered under the same name as the corresponding mobile phone subscriber.
Exceptions would be made for some individuals who may hold mobile banking accounts under a name that differs from the one used for their phone subscription, he said.
These exceptions include: family members; guardians as designated by a court order; juristic persons able to demonstrate their needs to banks; and others deemed by a bank to have reasonable grounds for use.
“These four categories can be collectively referred to as a whitelist,” he said.
Mr Prasert said the panel would deliberate the measures to be taken after October, including the possibility of extending the period to conduct the data review.
“We are eager to see if there will be a decrease in the 30 million mobile banking accounts during the 120-day period,” he said.
The DES Ministry asked individuals whose identities do not match the names used for their SIM card registration to promptly verify their identities with their mobile service provider.
If a mobile bank account holder’s name differs from the name used for a phone subscription, the individual should also notify the bank to explain the discrepancy, said the ministry.