Cybercrime in Thailand: Current Trends and Solutions
With phishing attacks to blame for nearly 80% of reported cybercrimes, cybercrime in Thailand is a pressing issue as the country takes the lead in Southeast Asia regarding e-shop phishing. Cybercrime, including phishing and data breaches, is at an all-time high globally with no sign of declining.
The global cost of cybercrimes is predicted to reach USD $8 trillion in 2023 from USD $6.5 trillion in 2022 – and USD $10.5 trillion by 2025. According to a recent report, the overall number of malware attacks reached 5.5 billion in 2022, a 2% increase from the previous year.
So, what are the cybercrime trends in Thailand? How is the government protecting you and your company, and what can you do about it? Read on to find out in this Pacific Prime Thailand article!
The Cybercrime Situation in Thailand
Nearly 120,000 phone numbers and 60,000 bank accounts were frozen in Thailand in 2022, revealing the country’s dire cybercrime situation. Efforts by the Thai police force, the Digital Economy and Society Ministry, and various agencies led to the suspension of the aforementioned criminal channels.
The Thai Police Online website received over 163,000 complaints of cybercrime between March and December 2022, totaling THB ฿27.30 billion in damages. Over half of the complaints were related to overseas call center gangs, with other cybercrimes including:
- Online scams
- Online ransom
- Computer hacking
- Sexual harassment
Additionally, the Police Cyber Taskforce received over 5,600 complaints of fraud and deception with damages costing over THB ฿476 million over one week in 2023. The top complaints include:
- Fake goods and services
- Fake part-time job fees
- Fake loans
- Fake transfer requests
- Fake online investments
Thailand Has a Phishing Problem
Phishing attempts, which can include using fake bank apps or fake online payment platforms, are a popular tactic for scammers. Over 55% of phishing attempts in Thailand are finance-related, making it the leading country for phishing attacks through fake e-shops in Southeast Asia.
Phishing through e-shops involves using fake online shopping websites or apps to send malicious links to users via SMS, luring them into giving their personal information. With a high number of online shoppers, Thailand is a major target for phishers looking to ultimately access the user’s money.
Cybercrime complaints can be made online via the Thai Police Online website (www.thaipoliceonline.com) or the Electronic Transaction Development Agency hotline by dialing 1212.
Thailand’s Latest Cybercrime Measures
Aside from impacting the lives of individuals, cybercrimes now can completely ruin businesses. From monetary and brand equity to intellectual property losses, information falling into the wrong hands can have extremely dire consequences.
On top of that, “invisible damages” include the loss of productivity, post-attack disruption to the normal course of business, and deleting all hacked data and systems. To combat cybercrime and scams, Thailand enacted the new “Cybercrime Decree” in March 2023.
Cybercrime Decree
The Cybercrime Decree offers a new legal tool to disrupt money laundering and aims to clamp down on cybercrime criminals and scammers by providing more severe legal measures applying to specific types of offenders that were not adequately covered by current laws.
Through the new legislation, victims can request online payment platforms and commercial banks to freeze suspicious transactions, to which platforms and banks must comply. Additionally, banks, platforms, and other service providers are required to share data to help prevent and suppress cybercrime.
Existing Cybercrime Measures in Thailand
Along with the latest Cybercrime Decree, Thailand also introduced two cybersecurity laws over recent years: The Cybersecurity Act and The Personal Data Protection Act.
The Cybersecurity Act
The highly-controversial Cybersecurity Act has been criticized as granting the government “sweeping powers” in Thailand’s digital economy. With this Act, the government can track, monitor, and access all online traffic in the name of emergency or as a preventive measure.
Note that private organizations are not exempted from this. You may be asked to provide the names, contact details of your key stakeholders, and more. It’s especially pertinent if your company uses or provides:
- Computer systems for work across national security
- Financial services
- Services targeted toward the public
Personal Data Protection Act (PDPA)
Introduced in 2019, the Personal Data Protection Act (PDPA) became fully enforceable in June 2022. Essentially, the Thai government has slightly adapted the EU General Data Protection Regulation regime to suit local needs, resulting in the PDPA.
Under the PDPA, you have the right to control how your personal data is collected, stored, disseminated, and protected by organizations. This is because consent is a major feature in data-sharing. We all have the right to know which organizations have our data, and how they use and share it.
The PDPA applies to related organizations, especially in Critical Information Infrastructure such as government services, financial, and information technology.
What Are the Different Types of Cybercrime?
While there is a wide spectrum of cybercrime, all can be grouped into two main categories. The first category involves a criminal activity that targets computers, while the second uses them to commit other crimes.
Viruses are an example of a crime in the first category. On the flip side, using computers to spread malware to damage other devices is an example of the latter.
Here is a non-exhaustive list of the different types of cybercrime:
- Phishing, such as sending fake emails to get personal information.
- Identity theft involves the misuse of your personal information.
- Theft and sale of corporate data.
- Hacking, or the shutting down or misusing of websites or computer networks.
- Cyber extortion, or demanding money to prevent a threatened attack.
- Cyber espionage occurs when hackers access government or company data.
It’s important to note that all digital devices that can connect to the internet are susceptible to cyber threats. To put it simply, your computer isn’t the only thing you have to worry about. This makes securing a corporate insurance plan with cyber insurance coverage incredibly important.
Get Cyber Insurance Coverage Today!
Given that cybersecurity is the cornerstone of success in the digital economy, businesses should secure a corporate insurance plan that includes cyber insurance coverage. With the number of cyberattacks constantly increasing, there appears to be no end in sight.
With a robust business insurance plan, your company is protected from fraud, data theft, brand impersonation, and more. With over 20 years of industry experience, our expert insurance advisors are available to help you find the ideal plan for your needs.
Contact us for impartial insurance advice or to receive a free plan comparison today!
Serena earned her Bachelor’s Degree in Psychology from the University of British Columbia, Canada. As such, she is an avid advocate of mental health and is fascinated by all things psychology (especially if it’s cognitive psychology!).
Her previous work experience includes teaching toddlers to read, writing for a travel/wellness online magazine, and then a business news blog. These combined experiences give her the skills and insights she needs to explain complex ideas in a succinct way. Being the daughter of an immigrant and a traveler herself, she is passionate about educating expats and digital nomads on travel and international health insurance.
Comments
Comments for this post are closed.
We'll notify you
when our team replies!