Financial Crime World

SCB Launches “Fraud Fighter” Initiative: A Comprehensive Resource to Combat Financial Scams and Cyber Threats in Thailand

Siam Commercial Bank (SCB), one of Thailand’s leading financial institutions, has recently introduced the “Fraud Fighter” initiative to safeguard Thai citizens from escalating financial risks. In the face of increasing scams and cyber threats, SCB is taking a proactive approach to inform and empower Thai citizens.

Rising Financial Threats in Thailand

According to the Royal Thai Police data from March 12-18, 2023, there were 529 reported cases of organized telephone fraud, resulting in losses exceeding 65 million baht. The Bank of Thailand is concerned about the latest threats, including call center gangs, SMS scams, and money-sucking apps. Preliminary estimates reveal potential losses from these apps totaling 1.152 billion baht between December 2022 and June 2023.

Introducing the “Fraud Fighter” Initiative

SCB’s primary objective with the “Fraud Fighter” initiative is to equip Thai citizens with the necessary knowledge to recognize and defend against financial scams and cyber threats. The multifaceted platform includes the following:

  1. Scam Updates

    • Stay informed about the latest scams and criminal tactics through announcements and notifications from the Bank of Thailand, SCB, and other reputable sources.

  2. Prevention Strategies

    • Learn practical tips and guidelines to protect yourself against various scams and circumstances.

  3. Guidance for Victims

    • Receive assistance for those who have become victims of financial scams, with information on recovery steps and measures.

The “Fraud Fighter” Initiative: Three Main Categories

The “Fraud Fighter” initiative consists of the following three main categories:

  1. Scam Updates

    • Official announcements and notifications
    • Regular updates on the latest scams and tactics
    • Information from Bank of Thailand and other reputable sources

  2. Prevention Strategies

    • Practical tips and guidelines for various circumstances
    • Effective measures against scams and cyber threats

  3. Guidance for Victims

    • Assistance for victims of financial scams
    • Steps for reporting and recovering from a scam

Educational Video Series: “Nong Eh! The Series”

In addition to the online resources offered, SCB plans to release “Nong Eh! The Series,” an educational video series featuring a trustworthy and friendly character. The videos will feature real-life experiences of individuals who have encountered criminal attempts, alongside cases from the Royal Thai Police, Bank of Thailand, and social media. This accessible video content aims to heighten awareness amongst Thai citizens about the risks posed by scams and fraudsters.

Security Measures and Commitment to Customer Protection

Despite robust security measures, SCB recognizes the importance of staying agile in the face of evolving scams. The bank continues to collaborate with relevant agencies, strengthen safety protocols, and develop effective guidelines to prevent and manage financial crises.

Accessing the “Fraud Fighter” Resources

Those interested in learning more about fraud prevention can access the “Fraud Fighter” resources by visiting the dedicated website at https://link.scb/49pv2cw. Updates on the initiative will also be available on Siam Commercial Bank’s and The Standard’s social media channels across all platforms.