Bangkok: "Prasert" reveals the Cyber Security Act will be effective this April, confirming that financial institutions, telecommunications companies, and various platforms must share responsibility if negligence causes problems.
According to Thai News Agency, Deputy Prime Minister and Minister of Digital Economy and Society, Prasert Chantarawongthong, announced the progress of the Royal Decree on Cyber Crime Prevention and Suppression, stating that the decree will be finalized by the end of this month. It is an additional decree aimed at determining the responsibilities of financial institutions, telecommunications companies, and various platforms. The decree will become effective after its announcement in the Royal Gazette early next month. It has already passed the Cabinet, thus requiring only a notification to the parliament to come into effect.
When inquired by reporters whether financial institutions, telecommunications companies, and platforms will be liable for damages once the decree is implemented, Mr. Prasert clarified that they will not. Discussions have been held with these entities to ensure understanding of their responsibilities once the decree is in force. Although some issues remain unresolved, the implementation is set for this April.
Mr. Prasert provided an example regarding banks, emphasizing that stricter regulations must be followed when opening accounts. It will not be permissible for anyone to open an account without scrutiny. Banks must inquire about the nature of the business and assess whether the individual is on a suspicious person list. If they are, an account should not be opened. Should a bank ignore this and an account causes harm or defrauds the public, the bank will be held accountable.
Regarding the extent of responsibility between banks and mobile phone companies, Mr. Prasert explained that this would be determined by the court, which will decide based on where the damages primarily lie.
A reporter questioned whether each incident must be reported to the police and await a court decision, potentially leading to delays. Mr. Prasit responded that the process would not be excessively lengthy, noting that court delays typically occur due to the multiple stages involved in legal proceedings.
When asked if a single-tier court would expedite resolutions, Mr. Prasit indicated that once a case reaches court, it must adhere to the established court process.