BANGKOK, Thailand – The Bank of Thailand (BOT) has announced a new measure to enhance the security of mobile banking transactions, restricting each account to a single registered device. The regulation, which also introduces biometric authentication via facial recognition, will take effect within 30 days following its publication in the Royal Gazette.
Under this new policy, users can register only one device per mobile banking account, eliminating the possibility of accessing the same account on multiple devices. However, account holders will still be able to view all their accounts within the same bank through the mobile application. Additionally, the name registered on the SIM card must match the account holder’s name.
To further strengthen security, the central bank is implementing facial recognition with liveness detection for specific high-value transactions. This additional verification will be required for single transfers of 50,000 baht or more, cumulative daily transfers exceeding 200,000 baht, and when increasing transfer limits above 50,000 baht.
Transfer limits will also vary based on user risk profiles. Those under 15 years old will have a daily transfer and withdrawal cap of 50,000 baht, while higher limits will be determined based on an assessment conducted by each bank.
For customers switching to a new device, the old device must first be deactivated. They will then need to contact their bank to obtain a new verification code before registering the new device and reconfiguring their security settings. Users switching between iOS and Android will also need to complete a fresh registration.
To enable facial recognition authentication, users must access their banking app’s security settings, follow the on-screen instructions to scan their face, and confirm system verification.
The BOT’s new measure aims to counter increasingly sophisticated cyber threats targeting financial transactions. Customers are advised to ensure their SIM card registration matches their bank account information, update their banking applications, and familiarize themselves with the new security protocols. If issues arise, users can contact their bank’s call center, visit a local branch, or reach out to the Financial Crime Prevention Center via hotline 1155. (NNT)
