Finance minister warns of fake loan apps in Thailand
Finance Minister Ekniti Nitithanprapas has warned that fraudulent loan and investment apps are falsely claiming Ministry of Finance endorsement, some using his face and the ministry's logo. He said on Friday that the ministry has never endorsed such apps, and that all financial apps must be approved by the Bank of Thailand before ministry checks.
What this means for you
- Anyone in Thailand seeking loans or investments through mobile apps, including foreigners, should treat claims of Ministry of Finance endorsement as fake.
- The ministry says it has never endorsed these apps and that legitimate operators need Bank of Thailand approval first.
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