BANGKOK, Thailand – The government has issued a warning about fraudulent schemes on TikTok, cautioning that state-owned banks and funds do not offer loans through the platform. Authorities are urging citizens to verify website links and avoid sharing unverified information.
The Royal Thai Police and the Ministry of Digital Economy and Society (MDES) are investigating and preparing legal action against individuals spreading false news.
Officials have identified an increase in online scams, with fake advertisements posing as state-backed loan offers among the most concerning. A prominent example involves claims that the Bank for Agriculture and Agricultural Cooperatives (BAAC) is offering loans through a TikTok account called “baac.thailand5.” Another scam promotes a fake investment fund, the “Thai Sustainable Fund,” which falsely claims endorsement by the Securities and Exchange Commission (SEC) and requires a 1,000-baht portfolio opening fee.
The Anti-Fake News Center reported receiving over 800,000 messages in late last month and early this month. Among these, about 300 required verification, and 40 cases have been resolved. Online crime-related fake news, including fraudulent loan offers, accounted for the majority of public attention.
Several other scams have been flagged, including fake Government Savings Bank (GSB) Facebook and TikTok accounts advertising quick loans, counterfeit Department of Land Transport pages offering license services, and fraudulent investment schemes claiming SEC approval with promises of high returns. Scams targeting retirees and freelance job seekers were also identified.
Authorities emphasized that these scams are causing significant harm, including financial losses and risks to personal data. The government is particularly concerned about the spread of misinformation, which could lead to confusion and exploitation on a large scale. Citizens are encouraged to share only verified information and remain vigilant online.
The Royal Thai Police and MDES are collaborating to track and prosecute those responsible for these fraudulent schemes. Officials have stressed the importance of digital literacy and critical verification of online content to prevent further harm. (NNT)
