Thai Regulator Targets Predatory Online Lending
The Thai government has issued warnings regarding predatory online lending practices targeting citizens. The Office of the Consumer Protection Board (OCPB) has been ordered to intervene and resolve these issues. The OCPB must now establish standards for contract regulation and play a more active role in monitoring all electronic lending transactions. The SEC has ordered the creation of new contract standards to protect consumers from deceptive digital lending terms. The Thai regulator has issued new directives to prevent lenders from sharing borrower data with third parties without explicit consent. These rules apply to both physical and online loan agreements. The regulator also plans to issue announcements to control business practices that may negatively impact consumers, such as certain real estate sales practices.
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Sources · 7 independent
“The government has issued a warning... the Office of the Consumer Protection Board has been ordered to move forward with solving the problem and creating contract standards.”
“the SEC has ordered to move forward with solving the problem and creating contract standards for consumer protection, emphasizing that the SEC must play a role in controlling all types of lending contracts.”
“the SEC has ordered to move forward with solving the problem and creating contract standards for consumer protection.”
“the SEC has ordered an investigation into the problem and to create contract standards for consumer protection, requiring the SEC to have a role in controlling all electronic lending transactions.”
“the SEC has ordered to move forward with solving the problem and creating contract standards for consumer protection, emphasizing that the SEC must play a role in controlling all electronic lending contract processes.”
“The SEC has ordered to move forward with solving the problem and creating standards for consumer protection, mandating that the SEC must play a role in controlling all lending transactions.”
“นำข้อมูลไปเปิดเผยต่อบุคคลที่ 3 โดยไม่ได้รับการยินยอมจากหนังสือของผู้กู้ ซึ่งไม่ว่าจะเป็นการทำสัญญาด้วยหนังสือหรือว่าสัญญาผ่านช่องทางออนไลน์หรือแอปพลิเคชัน ก็ต้องทำตามประกาศ”
“นำข้อมูลไปเปิดเผยต่อบุคคลที่ 3 โดยไม่ได้รับการยินยอมจากหนังสือจากผู้กู ซึ่งมาตากานี้ ไม่ว่าจะเป็นการทำสัญญาด้วยหนังสือหรือว่าสัญญาผ่านช่องทางออนไลน์หรือไอร์ไลค์ ๆ ได้ได้นี่ก็ต้องทำตามประกาศ”
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