Here’s How To Keep Your Baht Safe From ATM Hacks

Earlier last week, Thailand suffered a major ATM hack that lost the nation a little over 12 million baht or an estimated $350,000. The attack was traced back to an Eastern European gang after analyzing hacks that hit 21 ATMs from Bangkok and five other provinces.

According to authorities, the foreign group got help from locals and initiated the attack on the night of July 29. The people involved should’ve been nearby or was at the airport. They used a malware that worked by inserting a card in the ATM which will render it useless and dispensing cash.The withdrawal cap was also hacked to increase from 20,000 baht to 40,000 baht.

The group illegally entered Thailand’s Government Saving Bank, prompting the Central Bank of Thailand (BoT) to issue warnings across the country’s commercial banks which covers approximately 10,000 ATMs.

Making sure that this never happens again is something that the Thai government is currently getting worked up with. So while investigations are being carried out, what you can do in your part as a citizen and ATM owner, is to find ways to increase your security from hackings such as this.

While it is the first major ATM attack in Thailand, the rest of the world has been enduring mobile scams since the dawn of technology. Because of this, they have already developed security measures that deflect attacks such as this. As an account holder, one of the things you can do is implement better security systems.

The Solution: Your Fingerprint
The thing that hackers most commonly do is steal identity. By obtaining personal information from you such as full name and date of birth, it’s just a matter of hacking a username and password and they’ll have instant access to your money. The fault in this system is just that, it relies solely on information that is available from an ID. The solution that was developed to solve this is to use something beyond personal information: a fingerprint.

The National Broadcasting Telecommunications Commission (NBTC) has developed a 7 million baht software application that will incorporate fingerprint scanning to existing registration systems. By doing this, users are given another layer of security.

Hopefully, it will be enough to fend off future hackers.