Online Fraud Cost Thailand 60 Billion Baht in 2024, Report Reveals

National seminar highlights alarming rise in scams, calls for enhanced media literacy and verification efforts to combat economic losses

 

Thailand’s economy has suffered a staggering 60 billion baht loss in 2024 due to widespread online fraud, with millions of citizens falling victim to sophisticated telephone and SMS scams. 

 

A recent report highlighting these alarming figures has prompted a national seminar aimed at bolstering media literacy and fact-checking initiatives to combat the escalating economic impact.

 

The “International Fact-Checking Day 2025” seminar, organised by the Thai Health Promotion Foundation (ThaiHealth), Cofact Thailand, and a coalition of 20 partner organisations on Wednesday, underscored the urgent need to address the rampant spread of disinformation. 

 

The event, themed “The Battle for Truth: Reclaiming Information Integrity in the Age of Distrust,” revealed that Thai citizens were targeted by 38 million fraudulent phone calls and 130 million deceptive SMS messages in the past year, marking a five-year high.

 



 

Supinya Klangnarong, co-founder of Cofact (Thailand), stressed the economic repercussions of these scams, stating, "This level of fraud not only undermines public trust but also inflicts severe economic harm."

 

To counter this, Cofact Thailand, in collaboration with ThaiHealth and 11 media organisations, is intensifying its efforts to combat disinformation. 

 

Initiatives include the “Donate Fake News” campaign, aimed at analysing and verifying false information, and the promotion of awards for journalists and content creators who actively engage in fact-checking.

  



 

Benjamaporn Limpisathian, deputy manager of ThaiHealth, warned that the rapid and borderless dissemination of fake news and distorted information poses a significant threat to both social stability and economic well-being.

 


"The economic damage caused by these scams is substantial and directly impacts the nation's financial health," she stated. "We must equip our citizens with the skills to discern truth from falsehood."


 



 

The Royal Thai Police (RTP) reported over 400,000 online fraud cases in the first quarter of 2024 alone, contributing to the staggering 60 billion baht loss. 

 

Assoc Prof Dr Preeda Akarachantachote, Dean of the Faculty of Communication Arts at Chulalongkorn University, emphasised the importance of responsible information sharing. 

  



 


"Accurate information is the bedrock of a healthy society. We must foster a culture of critical thinking and responsible media consumption," he stated. 


 

The seminar also featured discussions on the evolution of disinformation from the telegraph era to the age of artificial intelligence, with experts highlighting the need for adaptive strategies to combat evolving threats. 

 



 

Organisers urged the public to utilise the Cofact platform (cofact.org or Line OA: @Cofact) to verify information before sharing, contributing to a safer online environment and mitigating further economic losses.

(2025/04/02-00:00)