Thailand FIs Study | Fraud prevention trends

Combatting escalating fraud in a digital world

Download our report to find out how financial institutions in Thailand are safeguarding their digital products and channels in an age of increased digital adoption.

Thailand Financial Institute Fraud Report Study | GBG


of FIs predict an increase in money laundering in the upcoming year


of FIs found identity verification to be the most challenging factor in growing digital transactions


of FIs consider new endpoint threat detection their largest component of investment

49% of Thai financial institutes actively use machine learning in their fraud prevention and detection processes, among the highest in Southeast Asia.

In this report, we analyse emerging trends in Thailand’s financial institutes (FIs), their digitalisation priorities and existing gaps in fraud prevention and mitigation.

The study gauges the digitalisation priorities of FIs, assessing key fraud and security challenges, as well as evaluating the existing gaps that need to be overcome to mitigate fraud in a rapidly digitalising world.


Digital adoption improved across Thailand, driven by the pandemic and ongoing digital transformation initiatives. Expected growth in daily digital transactions is slower than regional peers, indicating a need to address challenges in digital adoption and accelerate digital transformation.

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Meeting past regulations remains a key challenge for FIs in Thailand, higher than regional peers. New regulations also require wider and deeper risk management capabilities from institutions. Regulatory penalties emerged as the biggest fraud-related loss.

Organisational integration across compliance, fraud and cybersecurity functions are slightly higher than the regional average, with scope remaining for synergy and increased cohesion for institutions still operating in siloes.

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Continual skill development has risen in priority as FIs recognise the need for a holistic approach and the key role of people, processes and technology in risk control.

Data integration gaps are still a prominent challenge for Thai FIs, higher than the regional average. Thai FIs are investing in a single platform to interexchange applications and transactions data.

Endpoint threat detection has become a priority, with FIs using advanced technology and analytics tools. Proactive FIs are focusing on annual fraud management upgrades with an increased shift towards cloud-based systems.

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