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The Bank of Thailand (BOT) has urged financial institutions to make a serious effort to improve their services in order for customers to have sufficient information for informed decision-making on financial products.

The central bank’s governor made the comments in the wake of the publicity surrounding the case of Nicha Kiartthanapaiboon, who claimed her identity card was stolen by fraudsters who opened bank accounts in her name.

BOT chief Veerathai Santiprabhob said the institution was adamant that the customers of banks and other financial companies should receive fair financial services. The reinforcement of this entitlement has been set among the 12 key strategies aimed at driving the Thai financial system forward. This requires financial institutions to serve customers with responsibility and fairness while ensuring customer protection.

Ruchukorn Siriyodhin, BOT deputy governor for Financial Institutions Stability, said that although financial institutions have been improving their services, the central bank had set targets for conduct upgrades.