Krungthai Bank confirms the app update message is not malicious.

Images with text are circulating on social media platforms stating that if you receive a notification to update the Krungthai NEXT, an application from Krungthai Bank, you should not press the update button. The text claims that doing so will result in money being stolen from your account.

Social Media Claims

Earlier this month, Facebook users started sharing screenshots of the Krungthai NEXT application. Accompanying these images was a caption that read, “If you have a Krungthai Bank account and receive a message to update to a new version like the one below, please do not update under any circumstances. Many people have reported money being stolen from their accounts. I am sharing this as a warning.”

Source | Archive

However, upon fact-checking, we discovered that the aforementioned claim is not true.

Fact-Checking

The official Krungthai Bank Facebook page, “Krungthai Care“, has announced an application update. Users will see an in-app notification in the app saying, “Krungthai NEXT new version is now available. Please update Krungthai NEXT to the latest version to continue.” Users are advised to update the app promptly for optimal use.

Archive

Furthermore, Krungthai Bank has posted an article on its website about preventing scams. It advises users to keep their applications updated to the latest version. This is because the bank continually develops and improves its applications to uphold security and ward off fraud. Thus, regularly updating the Mobile Banking app can help prevent certain types of online fraud. You can read the full article here.

Can fraudsters steal your money without your permission?

According to the statement from the Thai Banking Technology Security Coordination Center (TB-CERT) under the Thai Bankers’ Association and the National Police Office, it is confirmed that merely answering a phone call or clicking a link alone cannot enable a fraudster to withdraw money from your mobile banking account. (Source)

Thai PBS Sci & Tech has detailed a common method that scammers use to hack into victims’ bank accounts. They initiate a call, impersonate someone else to build trust, and engage the victim in conversation to distract them from their phone screen. Then, they deceive them into sharing personal information to gain access to their banking app. Therefore, whether it’s a “money-hacking charging cable,” “money-hacking link,” “money-hacking QR Code,” or a “money-hacking phone call,” none of these are true. Criminals must take many additional steps before they can steal from a victim’s account. (Source)

In addition, the Thai Bankers’ Association has issued guidelines on how to prevent fraudulent money withdrawals from bank accounts as follows:

Do not download applications from sources other than those controlled and certified safe by official operating system developers, such as the Play Store or App Store.
Do not reuse passwords or use common passwords with Mobile Banking.
Do not scan your face or verify your identity through unknown applications.
Do not click on links from strange or fake SMS messages. Banks do not have a policy of sending SMS messages with any type of link or a request to add a Line ID. If you receive such an SMS, do not trust it.
Pay attention to the badge in front of the Line account, which should only be green or dark blue.
If you wish to conduct any transactions, please contact the referenced organization for confirmation.

(Source)

Summary

The social media claim stating that updating the Krungthai NEXT application by Krungthai Bank will result in stolen account funds is false. Krungthai Bank has confirmed via its Facebook page that users will receive a notification to update the application. Users should perform this update for more efficient and secure usage.

Title: Krungthai Bank confirms the app update message is not malicious.

Fact Check By: Fact Crescendo Team

Result: False

Fact Crescendo Team