New cyber fraud insurance mulled

The Office of the National Cyber Security Agency (NCSA) is developing a framework for cyber fraud insurance to help organisations mitigate the risk of cyber-attacks and data breaches. The service could strengthen the cybersecurity landscape and increase risk awareness related to the Cybersecurity Act and Personal Data Protection Act (PDPA), according to NCSA secretary-general AVM Amorn Chomchoey. He said cyber fraud insurance is uncommon in Thailand and the nation does not have a framework, rules or guidelines for this form of insurance, even though personal data protection is an important issue in the digital economy. Customer data leakage from business services happens from time to time and scammers use such data to contact customers, causing damage. Cyber fraud insurance, also known as cyber-risk insurance, protects against losses caused by cybercrime. It helps businesses and indi...