THAILAND Trends and Developments Contributed by: Nuchaya Timrat, Naris Asavathongkul, Sirapop Amorncheewanun and Tunn Junhasavasdikul, Baker McKenzie
• mobile network operators; • telecommunications service providers; • social media platform service providers; and • other relevant service providers. These entities may be held jointly liable for damages caused by technological crimes – such as scams – if they fail to comply with mandated security standards (safe harbour) issued by their respective regulators. The decree requires financial institutions, payment service providers and digital asset business opera- tors to disclose suspicious activities and share data through a centralised system. It also mandates the implementation of robust security protocols to prevent crimes such as SMS fraud and unauthorised data use. Importantly, the Transaction Committee under the Anti-Money Laundering Act is authorised to consider reimbursing victims without waiting for a final court judgment. The decree also imposes strict penalties, including fines and imprisonment, on institutions and individuals who fail to comply, misuse personal data or facilitate criminal activities through mobile numbers or digital accounts.
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