Central Fraud Registry (CFR)
Description of the Service
NITMXs Central Fraud Registry (CFR) system allows member banks to submit data on suspicious transactions reported by victims of financial crimes that identified by the banks themselves according to the law. This will be done through the ITMX Web Portal and will generate data reports for government agencies.
The CFR system will include these functionalities:
- Creating a New Case by uploading an Excel file (suspected account level 1)
- Adding Sub Cases by uploading an Excel file (suspected account level 1,2,3, ... n)
- Updating transaction details through the Web Portal
- Searching and exporting search result files for member banks
- Exporting files for relevant government agencies
- Viewing transactions and displaying a dashboard with graphs
Qualifications of the Applicant
Members of the Central Fraud Registry (CFR) system must meet one of the following qualifications:
- Be a commercial bank according to the Financial Institutions Business Act of 2008, or
- Be a bank established under specific laws of Thailand
- Successfully complete the membership application process according to the conditions and procedures set by the company
- Other organizations authorized to use the system according to the announcement of the Personal Data Protection Committee’s measures for preventing and suppressing technology-related crimes of 2023
Revocation of Membership
Membership status will be terminated if:
- Withdrawn as allowed to engage in commercial banking business under the Financial Institutions Business Act of 2008 or no longer qualifies as a bank established under specific laws.
- Withdrawn from the license to engage in the payment service business under the Payment Systems Act of 2017.
- Withdrawn from the license to use the system according to the announcement of the Personal Data Protection Committee’s measures for preventing and suppressing technology-related crimes of 2023.
of Service
Benefits
To serve as a central hub for consolidating information on suspicious transaction listings reported by victims, and to use this information for investigative purposes to freeze funds from various accounts. It is also beneficial for tracking and returning money to victims when requests for information are made by government officials, as well as for using the information in the judicial process subsequently.
- Having a centralized system related to financial transaction fraud for banks can assist in better investigation and prevention.
- Facilitating data sharing among banks enhances cooperation and speeds up responses to financial threats.
- Helping member banks assess and manage risks better by analyzing data and learning suspicious transaction patterns.
- Enabling member banks to comply with legal requirements by reporting suspicious transactions as mandated by the law.
The company recognizes the importance of various information technology data, which are transaction details that come into the CFR system. Therefore, it places great importance on establishing a secure information technology system related to CFR to meet the highest security standards, equivalent to international levels ISO/IEC 27001, ISO/IEC27701, and PCIDSS. The data security is strictly protected from both physical and logical access. For data storage, data encryption applications are used, including Encrypt Sensitive Data with a Tokenizer, and the keys used for encrypting/decrypting the data are stored in HSM devices, which are highly secure.
Security
