Analyzing Bank Account Information of Nominees and Scammers

TL;DR

This study analyzes online scam cases involving bank accounts in Thailand, revealing significant financial losses, bank involvements, and emphasizing the need for regulatory measures to combat rising cyber fraud.

Contribution

It provides a detailed investigation of scam account data from a specialized website, highlighting bank involvement and financial impact, which is a novel analysis in this context.

Findings

Total losses exceeded 3,100 million Thai Baht.

Top two banks accounted for over 50% of scam accounts and transactions.

Significant involvement of specific banks in online scams.

Abstract

Nowadays, people heavily rely on the Internet for various activities, such as e-commerce (e.g., online shopping) and online banking. While online transactions are practical, they also provide scammers with a new way to exploit unsuspecting individuals. This study and investigation utilized data from ChaladOhn, a website designed and developed by academics and policemen. The data covered the period from February 2022 to January 2023. After analyzing and investigating, the results reveal that the total losses amounted to over 3,100 million Thai Baht, with each case incurring losses of less than 10 million. Furthermore, the investigation discovered the involvement of the top two banks in the market, KB*** and BB*, in the fraud. These banks accounted for: 1) 28.2% and 16.0% of the total number of scam accounts, 2) 25.6% and 20.5% of the total transactions, and 3) 35.7% and 14.9% of the total losses from the victims as recorded in the database, respectively. Considering the anticipated deterioration of this issue, it is crucial to inform regulators and relevant organizations about the investigation's findings. This will enable the development, suggestion, and implementation of an efficient solution to address the rapidly increasing number of online scam cases.