The Ministry of Digital Economy and Society (DES) said agencies are accelerating preparations for a new compensation mechanism for victims of online scams, with a ministerial regulation due to take effect on Aug 12.
Deputy DES Minister Nan Boonthida Somchai chaired a meeting on Monday to review anti-scam measures implemented by relevant agencies.
According to Royal Thai Police data, average daily losses from scam operations have fallen from about 100 million baht to 25 million baht, reflecting the impact of intensified enforcement and prevention efforts, she said.
Ms Nan said the ministerial regulation on compensation for victims of technology crimes will take effect on Aug 12, 90 days after its publication in the Royal Gazette on May 14.
Under the regulation, victims of online scams will be able to receive compensation through the Anti-Money Laundering Office transaction committee without having to wait for a court order.
Separately, Arnat Leemakdej, head of the Department of Finance at Thammasat University's Faculty of Commerce and Accountancy, called on the Bank of Thailand to require virtual banks, which are scheduled to begin operations this year, to allocate at least 10-20% of their lending to productive sectors such as agriculture and manufacturing.
Such measures would help prevent excessive concentration of loans in a limited number of sectors and reduce risks associated with consumer borrowing, he said.
Prof Arnat said e-commerce businesses were likely to be among the biggest beneficiaries of virtual-bank lending and urged regulators to ensure credit was also directed towards activities that support employment and economic growth.
"Virtual banks would benefit no one if the loans are used only for consumption purposes," he said, adding that appropriate regulation was needed to ensure fair competition.
