Banks in Thailand are now required to set a daily limit of 50,000 baht ($1,537) on many online transfers to lessen financial fraud, particularly those involving customers judged vulnerable such as children and older people.
The rule announced Tuesday by the Bank of Thailand is meant to help combat the huge criminal industry of online scams, which makes billions of dollar annually and is especially active in Southeast Asia. In many countries there is increasing pressure on banks to play a more active role in safeguarding the assets of customers targeted by scammers.
