The Thai Bankers’ Association has affirmed the security and stability of their banking application. In order to complete money transfers exceeding 50,000 Baht, users are required to scan their faces each time.
The confirmation came after news on the arrest of a programmer who sold software to transfer money and unlock the facial recognition feature within the application, making it possible to transfer money through the software and bypass the facial scanning requirement for transactions exceeding 50,000 Baht.
Thailand Banking Sector Computer Emergency Response Team (TB-CERT) acknowledged the matter and conducted system checks within the banking sector. It clarified that the mentioned software cannot be used with regular customer accounts because it requires access to all the account owner’s information, including personal data such as the bank account number, national ID number, mobile phone SIM card, and the device used for mobile banking. It also necessitates identity verification information, including the mobile banking PIN, one-time password (OTP), and facial recognition.
In the reported case, unauthorized persons exploited this software to facilitate money transfers from mule accounts with the consent of the account holders, enabling them to access all the personal data of account owners and conduct transactions.
For transfers exceeding 50,000 baht per transaction and 200,000 baht per day, it is confirmed that users must still verify their identity by scanning their faces. Banks have systems in place to verify the accuracy of facial scans, as specified by the Bank of Thailand. Therefore, it is advised that the general public have confidence in the high-security standards of mobile banking systems provided by all banks. (TNA)
