Thai commercial banks and other financial institutes have signaled their readiness to comply with the newly enforced Personal Data Protection Act (PDPA). The aim is to provide more comprehensive online safety for individuals.
The Thai Bankers Association and the Government Financial Institutions Association (GFA) acknowledged that the PDPA, which went into effect today (June 1st), will play a crucial role in protecting personal data. It is also expected to set the standards for collecting, disclosing and utilizing information.
Banks under both organizations have committed to complying with the new regulations, which will enhance cybersecurity and inspire confidence in the future development of the financial services industry as a whole.
The associations also noted that customers will likely see changes in consent policies relating to the use of personal information for various banking products and services. These include mobile banking services and conventional on-site services.
Additionally, banking institutes will adjust the presentation of their products and services in compliance with the PDPA.
The two associations are recommending that customers take the time to learn about the PDPA, along with relevant adjustments to the policies of their banks. (NNT)
 |
 |
 |
