Krungsri proactively continues to detect and prevent fraud
Krungsri (Bank of Ayudhya PCL) has implemented enhanced proactive security measures to detect and prevent fraud and ensure fast response when customers are targeted by fraudsters. The Bank also continues to educate and inform customers about the dangers of financial fraud.
Mr. Phonganant Thanattrai, Krungsri Head of Retail and Consumer Banking said, “Financial security is among the top priorities for Krungsri, and we have continually introduced various security measures to prevent fraud, such as restricting the use of our mobile application with Jailbroken or Rooted smartphones. We regularly release application security updates to detect suspicious applications, collaborate with government agencies and financial institutions to detect and prevent financial threats as quickly as possible and educate customers with useful information.”
“With a continuing rise in financial fraud incidences, we understand the concern of our customers and are committed to ensuring our security systems protect customers from risks in line with the Bank of Thailand’s prevention, detection and response measures.”
Krungsri fraud prevention measures that have been implemented and are currently in progress to be in line with the Bank of Thailand include
Prevention Measures
Stop sending all links via SMS and email
Stop sending requests for customers’ personal data unless required by customers in any Krungsri channels
Regular security updates for Krungsri’s mobile application
Require one username for one device
Require biometric scan and liveness detection for deposit account opening on mobile banking apps
Develop biometric scans for mobile banking transactions of more than 50,000 baht per transaction which is expected to be implemented by May 2023
Notify all credit card transactions via UCHOOSE application, plus SMS with transactions over 10,000 baht
Detection and Tracking Measures
Freeze suspicious bank account when reported by a fraud victim
Cooperate with internal business units, other financial institutions and police when customers suspect they have been a victim of fraud
For credit card users, when the detection and tracking department detected suspicious activities or transactions, the department will contact credit card members to verify the transaction which customers can contact via any Krungsri channels
Response Measures
Set up a dedicated hotline call center to let customers report incidents quickly – call 1572 press 5. The line is open 24 hours a day to advise useful information such as online fraud reporting
Handle fraud reports by customers at the Krungsri branch nationwide
Constantly communicate and provide information about financial risks to customers via our owned media channels
Customers who suspect that they may have been compromised by fraudsters can contact Krungsri’s Hotline by calling 1572 press 5. The line is open 24 hours a day.
