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Monday, February 26, 2024

40,000 people in Thailand have recovered money worth 130 million baht stolen by hackers


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The Bank of Thailand (BOT) and the Thai Bankers Association (TBA) announced over the weekend that all the money that hackers stole from people’s bank accounts has been returned to their rightful owners.

One large group of scammers hacked 10,700 debit cards between October 1 and 17 and stole a total of 130 million baht. The full amount has been refunded, according to the banks.

As for credit cards that have been hacked, they have been frozen, although the cardholder does not have to pay for the fake transaction or the interest incurred.

To avoid a recurrence, BOT and TBA plan to add additional authentication measures, such as a one-time password (OTP) for online transactions, especially if the goods and services are purchased from a foreign merchant.

Last week, nearly 40,000 people were scammed with their bank accounts and credit cards showing unexplained transactions.

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