Fingerprint banking: How not to lose one million baht
After fake customer withdrew 986,700 baht from Ayutthaya businessman's bank account instead of making online payment, fingerprint app solution proposed.
After fake customer withdrew 986,700 baht from Ayutthaya businessman's bank account instead of making online payment, fingerprint app solution proposed.
BANKING, ONLINE PAYMENTS & FRAUD
Fingerprint banking: How not to lose one million baht
20/08/2016
Post Reporters & Komsan Tortermvasana
Could an online scam artist or "con man" steal money from my bank account?
Is there some trick a cyber-criminal could use to withdraw all the money from my bank account?
These thoughts must have been thought by many, particularly as online payments become more common.
Crime story.
MOBILE BANKING SCAM
The owner of a car accessory shop in Ayutthaya, Pansuthee Meeluekit, did what many business owners often do.
He gave a customer online payment information.
A customer was buying some of his products online and wanted to transfer money to his bank account.
The customer asked for business owner's bank account and ID card number so he could transfer the money.
For a long time, a bank account is all that people needed to make online payments.
Now, the new government PromptPay system, uses a person's ID card number as well.
The sequence of steps used by the con man to withdraw all the money out of the businessman's bank account was relatively simple.
Police having discussion with protesters.
FIRST, GET BANK ACCOUNT & ID CARD NUMBER
The shop owner gave the customerm, and alleged con man named Sureekai Anumart, his bank account and ID card number.
SECOND, GET A SIM CARD IN BUSINESSMAN'S NAME
The con man applied for a new mobile phone SIM card.
The con man had contacted TrueMove and managed to talk a True staff member into giving him a SIM card that matched the business owner's ID card without actually showing the original ID card.
Traffic diverted for protest in front of police headquarters.
THIRD, CHANGE BUSINESSMAN'S MOBILE BANKING PASSWORD
The bank account of the business owner was a savings account with Kasikornbank (KBank).
The con man then changed the password (PIN number) for the business owner's bank account by using the mobile banking system.
He used the reset password password feature of the K-mobile Banking app.
This allowed him to withdraw from the bank account that the business owner gave him, rather than deposit into it.
FOURTH, WITHDRAW MONEY
The conman then withdrew from the business owner's savings account with Kasikornbank (KBank) using the K-Mobile Banking application, leaving a grand total of 58 baht in the bank account.
VICTIMS PROTEST IN FRONT OF POLICE HDQTRS, DRAW ATTENTION TO CRIME
Unfortunately, big companies can sometimes drag their feet and delay a resolution to problems like this.
To get help and publicize their plight and the fraud that had been perpetrated against them, the family of the businessman staged a small protest.
The family led by Phansuthee Meeluekij, 28, the owner of the auto accessories shop in Ayutthaya, on Friday went to the middle of Rama 1 Road in front of national police headquarters and sat there holding up placards that gave the details of the crime.
Protest signs (or placards) provided the details of the crime.
COMPENSATION FOR VICTIM
The bank, Kasikornbank, eventually agreed to put the whole sum taken, 986,700 baht, back into the bank account.
The mobile phone operator TrueMove, which issued the SIM card to the thief, gave the victim a new iPhone 6S with a free one-year service package as compensation.
MAKE SURE IT DOES NOT HAPPEN AGAIN
Kbank issued a statement on Friday: "We strongly recommend to clients to keep your personal information strictly confidential, especially information that can be used to verify identities," the statement said.
The bank said it would strengthen the security of its internet banking service, K-cyber banking, by ensuring that customers who want to reset passwords are able to do so only in person at bank branches.
Additionally, an original ID card will be required if a customer requests any changes in their personal information.
KBank said it will cooperate with the mobile operator to seek stricter security measures regarding new SIM card requests.
FINGERPRINT APP SOLUTION FOR MOBILE BANKING ID
The National Broadcasting and Telecommunications Commission (NBTC) plans to launch a software application this year allowing people using mobile banking to securely identify themselves with their fingerprints.
The NBTC spent 7 million baht developing the new application over several months and it would be operated as an additional registration system for mobile phone users accessing mobile banking services, which were among the most popular services nowadays.
The fingerprint system is to complement existing registration systems. The NBTC will encourage people to use the system for their own benefit, especially when they use mobile banking.
http://www.bangkokpost.com/news/general/1068437/nbtc-to-launch-mobile-banking-fingerprint-app
http://www.bangkokpost.com/news/general/1066332/family-protests-after-losing-b1m-in-internet-banking-scam
http://bangkok.coconuts.co/2016/08/22/kasikornbank-agrees-refund-thb986700-after-customer-staged-sit-protest
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