Unanimous Resolution: Council Approves ‘Cyber ????and Digital Assets Act’

Bangkok: The House unanimously approved the “Cyber ????- Digital Assets Emergency Decree” for banks to jointly compensate for damages from the “call center gang” and hasten to return money to the victims. In the extraordinary session of the House of Representatives, the agenda for consideration of the Royal Decree on Measures to Prevent and Suppress Technology Crime (No. 2) B.E. 2568 and the Royal Decree on Digital Asset Business (No. 2) B.E. 2568 proposed by the Cabinet, was discussed. The session was divided into 2 hours for each side for a total of 4 hours, and both decrees were considered together and voted on separately.

According to Thai News Agency, Mr. Prasert Chantarawongthong, Deputy Prime Minister and Minister of Digital Economy and Society, introduced the principle that the current Emergency Decree on Measures to Prevent and Suppress Technology Crimes B.E. 2566 lacks sufficient legal enforcement measures for the crime patterns of fraudsters. The decree needs revision and improvement to expedite the refund of money to victims, seize mule accounts, and determine the responsibilities of financial institutions, telephone network providers, and measures for illegal money transfers via digital assets.

MP Mr. Chuti Krairiksh of the Ruam Thai Sang Chart Party emphasized the need for real suppression of technology crimes. He highlighted issues with existing legal measures and called for urgent changes, including amending the money laundering law. Mr. Krairiksh expressed concerns about the efficiency of law enforcement and the necessity of using advanced technology like AI to enhance suppression efforts.

Mr. Wiroj Lakkhanaadisorn, deputy leader of the Prachachon Party, pointed out the severe impact of call center gangs on the economy and society, particularly affecting elderly victims. He advocated for the Cyber Decree to empower agencies overseeing mobile payment systems and ensure financial institutions share responsibility for damages. Mr. Wiroj emphasized the importance of Section 8/10, which mandates banks and service providers to be jointly responsible for losses, incentivizing improved security systems.

Mr. Wiroj further stressed the need for effective enforcement of the Cyber Decree, highlighting the urgency of issuing subsidiary laws. He noted the significant economic threat posed by call center gangs, which siphon substantial funds from the economy. He urged the government to leverage legal mechanisms to combat these threats.

Mr. Rangsiman, chairman of the House of Representatives’ Committee on State Security, discussed the need for dismantling the criminal structures of call center gangs, often linked to foreign entities. He highlighted the importance of addressing domestic challenges like mule accounts and emphasized prioritizing citizen safety. Mr. Rangsiman called for stringent measures to ensure financial institutions adhere to standards and questioned the government’s commitment to tackling call center gangs.

The meeting concluded with a vote approving the Emergency Decree on Measures to Prevent and Suppress Technology Crimes (No. 2) B.E. 2568 with 452 votes in favor, none against, and 2 abstentions. Similarly, the Emergency Decree on Digital Asset Business Operations (No. 2) B.E. 2568 was approved with 453 votes in favor, none against, and 2 abstentions.