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Jul 24, 2026
pthandapani@vixio.com
Thailand
Bank of Thailand
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1780 charsThailand's Bank of Thailand Opens Consultation on Digital Channel Security Principles
On July 23, 2025, the Bank of Thailand (BOT) launched a public consultation on draft principles for securing financial services delivered through digital channels (Digital Channel Security). The consultation period runs from July 23 to August 24, 2025 (32 days).
The BOT introduced this consultation following evolving cyber threats and fraud targeting financial service providers. Previously, the BOT issued Mobile Banking Security guidelines in 2567, which successfully reduced app-based fraud. However, fraudsters have shifted tactics, targeting non-bank financial service providers through application spoofing, credit card fraud, and cardless withdrawal services. They employ increasingly sophisticated methods, including malware installation on victim computers to capture passwords and SMS one-time passwords for Internet Banking access.
The proposed Digital Channel Security principles aim to strengthen security standards for financial services delivered via mobile applications and Internet Banking. The guidelines will apply to financial institutions, specialised financial institutions, and e-money service providers. The BOT seeks to address unauthorised payment fraud, enhance cyber resilience, and build public confidence in Thailand's financial system and payment infrastructure.
The consultation invites stakeholders to submit feedback and recommendations on the draft principles. Interested parties can contact the BOT's Information Technology Risk Management and Supervision Division at TSD-TechPolicy@bot.or.th for additional information. All comments received during the consultation period will inform the BOT's final principles development. The BOT will maintain confidentiality of personal data submitted and use it solely for this consultation process.
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1867 charsThailand's Bank of Thailand Opens Consultation on Digital Channel Security Principles
On July 23, 2025, the Bank of Thailand (BOT) issued the Consultation Paper on the Principles for Security of Financial Services via Digital Channels (Digital Channel Security).
The issued consultation paper contains:
Administrative measures detailing the expanded scope of digital channel security requirements to encompass financial institutions, specialized financial institutions (SFIs), e-money providers, and credit card or loan providers offering money transfers or cardless cash withdrawals via mobile applications and internet banking.
Specific rules mandating that financial service providers must implement secure Two-Factor Authentication (MFA) for critical transactions such as transfers and limit increases, requiring the complete cessation of SMS OTPs for transaction authentication in favor of secure factors like device binding or hard/soft tokens.
Regulations prescribing a mandatory requirement for facial biometric authentication equipped with anti-spoofing technology for high-value transactions, specifically noting transfers exceeding THB50,000 (US$1,485) per transaction or THB200,000 (US$5,940) per day, to ensure the secure operation of mobile applications and prevent remote access.
Provisions outlining the duty of financial service providers to enforce strict identity verification during service registration or device changes, incorporating out-of-band notifications and risk-mitigation measures like cooling-off periods or temporary minimum limits to prevent unauthorized access.
Directives establishing strict anti-spoofing measures that prohibit financial service providers from sending SMS messages and emails containing links, alongside a requirement to actively establish processes to handle and respond to fake applications or websites impersonating the provider.
Feedback may be submitted via this form by August 24, 2026.