KASIKORNBANK launches “SATI” campaign to raise awareness among Thai consumers in order to stay ahead of the proliferation of online frauds.
To this end, KBank has enhanced efficiency in its operational systems, technologies and personnel while also strengthening cross-bank collaboration as part of preventative efforts against cyber threats.
Along with this, customers have been equipped with online security knowledge to ensure that they can use electronic financial services wisely and safely.
In 2018, there were 973 technology crime cases involved with computer system, with loss over 500 million Baht, according to Technology Crime Suppression Division.
Mr. Pipit Aneaknithi, KBank President, disclosed that in the era where the world is connected through technology and computer, especially amid the widespread use of mobile phones, we are more exposed to cyber security risks.
As evidenced, hackers have used more sophisticated and advanced techniques in committing identity crime.
According to the 2019 Global Risks Report published by the World Economic Forum, large-scale cyber attacks are among the top ten global risks and are critical for the financial system globally.
As consumers have increasingly relied on social media for communicating with one another, conducting financial transactions and making funds transfer for online trade, criminals have taken advantage of vulnerabilities in cyber security to commit crimes.
“KBank is fully aware of such cyber threats and has developed various operational systems, technologies and innovations, as well as improving the capacities of our personnel to cope with those risks, including prevention, monitoring, detection and disaster recovering planning, aimed at building confidence of users towards KBank services.
In addition, we have attached importance to providing knowledge to our clients on how to use electronic financial services with enhanced security”, Mr. Pipit said.
Recently, KBank launched the “SATI” campaign to promote Thais to be conscious and not be frightened when falling victim to online scams via an easy-to-remember hashtag #UseSATIToProtectSATANG.
This campaign is intended to create the awareness of the three most common cyber treats, as follows:
1) Phishing is a cybercrime in which an attacker, masquerading as a trusted entity, dupes a victim into opening an email, SMS or website.
The victim is then tricked into clicking a malicious link or downloading an attachment. An attack can have devastating results, including the stealing of funds via unauthorized use of the victim’s account and password or identity theft.
2) Social media scam is committed by cybercriminals who impersonate the victims for illegal purposes or deceive others and cause financial damages.
The victims may lose money in their banking accounts while some victims may also be accused of committing a crime and be punished by law.
3) Call Center gang is a phone scam that fraudsters create a situation to make the victims panic or deceive them to believe that they receive certain benefits.
Once convinced, the victims may follow the gang’s instructions by transferring all money in their bank accounts or revealing their credit card information to perpetrators in order to purchase online goods, driving them into credit card debt unknowingly.
Cyber threat is a danger associated with daily routines of Thais. In 2018, there were 973 criminal cases involved with computer system, representing 35 percent of all cases reported to Technology Crime Suppression Division, with a total damage worth over THB500 million.
The scam patterns include sales frauds, or perpetrators manipulating victims to transfer money via or email or by phone. Some also claim to be someone else to dupe the victims to swindle their money.
As digital technology has become a big part of people’s lives, cybercriminals have used new tricks and created situations to mislead people that they could receive easy windfalls.
Therefore, #UseSATIToProtectSATANG is an essential tool to protect themselves from cyber threats. KBank will publicize information and knowledge about safety tips for online financial services regularly to create immunity for all users in Thailand.