Mitihoon – KTC, or Krungthai Card Public Company Limited, has received the Visa Thailand Champion Security Award 2025 for the third consecutive year, reflecting its standards in fraud risk management, robust operational processes, and industry collaboration to strengthen payment security amid rapidly evolving and increasingly sophisticated financial threats.
Mr. Rywin Voravongsatit, Head of Operations Control & Merchant Operations at KTC, and Mrs. Pranaya Nithananon, Head of Credit Card Marketing at KTC, received the award from Mr. Anthony Watson, Visa Country Manager, Thailand, and Ms. Choenporn Sawasdivorn, Head of Client, Visa Thailand.
Financial fraud today no longer targets systems alone. Fraudsters are increasingly exploiting people as a key point of vulnerability. According to the Bank of Thailand’s 2025 Annual Report, fraud tactics have shifted from the use of malicious applications to steal money from victims’ accounts toward social engineering, in which victims are manipulated into transferring funds themselves. In 2025, 363,286 fraud cases were reported, resulting in total losses of THB 24.57 billion.
Mr. Rywin said, “A significant shift in financial fraud today is that fraudsters are no longer focused solely on breaching systems. Increasingly, they are using social engineering to build trust or create a sense of fear or urgency, persuading consumers to take action themselves. Risk management must therefore move beyond reactive prevention toward Proactive Fraud Management, with the ability to monitor, detect, and respond to suspicious activity more quickly.”
KTC continues to strengthen its risk management capabilities across technology, data, processes, and people. The company uses spending behavior data to monitor and detect unusual transactions. When potential risk signals are identified, KTC promptly investigates, issues alerts, and contacts cardmembers to help reduce the risk of loss, while continuously enhancing its operational processes to respond more quickly to emerging forms of fraud.
From a business perspective, transaction security is not merely a technology issue. It is a critical component of operational resilience, cardmember trust, and the ability to support the sustainable growth of digital transactions. Effective risk management therefore requires a balance between preventing losses and maintaining a payment experience that is both convenient and secure for cardmembers.
Mr. Rywin added that payment security cannot be achieved by any one organization alone. KTC therefore places strong emphasis on collaboration with Visa and other industry partners, alongside ongoing efforts to raise awareness and help cardmembers recognize and protect themselves against evolving financial scams. Effective fraud prevention requires strong systems, industry-wide collaboration, and informed consumers working together.
This approach is aligned with the broader direction of Thailand’s financial sector, which is strengthening digital fraud management across the entire cycle, from prevention, monitoring and detection, and incident response to support for affected customers, enabling financial service providers to respond more proactively to evolving risks.
Mr. Rywin concluded, “For KTC, receiving this award for three consecutive years is not the destination, nor does it mean that our work on security is complete. Rather, it sets a benchmark that we must continue to uphold and raise. Risks evolve every day, which means we must continuously advance our people, processes, and technology. Ultimately, trust is not built by awards. It is built when our cardmembers can spend and conduct financial transactions with confidence every day. That is the standard we must deliver in every transaction.”
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