Investigation underway into unauthorized mobile banking withdrawals

[misskit]

Complaints have been raised about unauthorized withdrawals from mobile banking applications linked to three accounts, including one corporate account. The incidents have triggered concerns about mobile banking security and led to ongoing investigations to determine the root cause.


Chayawadee Chai-Anant, spokesperson for the Bank of Thailand (BoT), stated that the BoT has directed the involved banks to investigate and collaborate to uncover the facts. Preliminary findings from the three banks show no evidence of unauthorized transactions caused by fraudulent applications, but further inquiries are underway.

The BoT has instructed banks to strengthen systems for detecting irregular transactions and improving customer notifications, especially for corporate accounts. If investigations reveal errors on the part of the banks, they will be held responsible for compensating affected customers.


The BoT also plans to work with banks and relevant authorities to implement preventive measures and enhance overall banking security. Banks have been urged to upgrade systems to quickly detect and prevent suspicious activities, ensuring customer safety in financial transactions.

Investigation underway into unauthorized mobile banking withdrawals, BoT orders banks to strengthen security measures - Pattaya Mail

[harrybarracuda]

One firm opened multiple accounts at multiple banks and subsequently Bt2,250,000 was stolen in Bt49,999 chunks: One was a single transaction, the second was four transactions, the third 40 transactions.

I would bet that the device on which they installed the mobile banking apps had already been compromised by some chimp clicking on a link to get a free somethingorother and clicking OK to install malware, or worse, installing a fucking game, on the company phone, that already contained malware.

And they probably didn't have 2FA set up on the banking apps either.