Thailand to develop cyber fraud insurance framework

Efforts to bolster Thailand's cybersecurity are underway as the Office of the National Cyber Security Agency (NCSA) is working on developing a cyber fraud insurance framework. This initiative aims to aid organisations in mitigating the risk associated with cyber-attacks and data breaches, a growing concern in the digital age. NCSA Secretary General Amorn Chomchoey explained that the framework could reinforce the cybersecurity landscape and enhance awareness of risks tied to the Cybersecurity Act and Personal Data Protection Act (PDPA). Amorn further stated that cyber fraud insurance remains a rare offering in Thailand, lacking an established framework, rules, or guidelines despite the pressing need for personal data protection in the digital economy. Data breaches, where scammers exploit leaked customer data to inflict harm, occur sporadically, hence the need for protective measures. ...