BANGKOK, Thailand – Deputy Prime Minister and Minister of Digital Economy and Society (DES) Prasert Jantararuangtong has announced enhanced measures to combat technology-related crimes. Proposed amendments, set to be presented to the Cabinet on January 7, aim to expedite the return of funds to victims of mule account fraud and increase penalties for trading personal data, raising maximum prison sentences from one year to five years.
The changes will hold financial institutions and telecommunications providers accountable if their systems facilitate fraud. They also strengthen controls on digital asset transactions to prevent illegal money transfers, creating a more secure digital environment and addressing vulnerabilities exploited by cybercriminals.
To combat corporate mule accounts, the Department of Business Development has integrated its database with the Anti-Money Laundering Office (AMLO) to flag individuals at risk of money laundering, delaying or rejecting company registrations when necessary. Stricter requirements have been enforced since January 1 to ensure compliance and prevent misuse of corporate registrations.
The DES Ministry has also collaborated with the National Broadcasting and Telecommunications Commission (NBTC) to enhance regulations on SIM card sales and improve identity verification systems to prevent their misuse in fraudulent activities. (NNT)
