Authorities have issued a cautionary alert to the public against downloading purported registration applications promising 10,000 digital money, a central policy proposed by the Pheu Thai Party during its election campaign.
The new government will press ahead with the 10,000 baht digital handout policy as promised by the Pheu Thai Party during the general election.
Prime Minister Srettha Thavisin has confirmed that the government will implement key policies that the Pheu Thai Party promised to the public during the election, including the 10,000-baht digital money handout policy. He said the government will go ahead with the policy once the cabinet is royally endorsed and dismissed rumors about the party dropping the digital currency handout implementation.
Meanwhile, the Budget Bureau said it will issue a report on Thailand’s financial situation once the new government is officially established. Bureau Director Chalermphol Pensoot said the report will provide information for the new government to prioritize its key policies accordingly. He stated that the bureau is committed to supporting the digital currency distribution plan, but that it will need to provide a clearer image to the government of the country’s situation.
According to the Bureau, the digital currency handout could cost up to 560 billion baht. Further discussion between the government and related agencies will likely be called soon on this issue.
According to Pol Gen Amorn Chomchoey, Secretary-General of the National Cyber Security Agency (NCSA), no official government agency has initiated such a campaign or released an associated application. These apps could potentially be devised by fraudulent actors.
Pol Gen Amorn urged the public to refrain from downloading or installing these applications, as they might expose users to risks such as personal data theft or financial loss. He added that the NCSA, in response to the situation, has already taken measures to notify Google, urging the removal of these misleading applications from its Play Store, where they have been detected.
The overarching goal of the 10,000 Baht digital money or digital wallet initiative is to stimulate local consumption. This plan, introduced by Srettha Thavisin, who was recently granted royal approval as Thailand’s 30th prime minister, aims to provide a boost to the economy.
According to the scheme, each Thai citizen aged 16 and above will receive 10,000 baht in digital currency, stored within a digital wallet. The funds can be utilized exclusively within a four-kilometer radius of their registered residence, and they must be spent on essential daily life necessities within a six-month timeframe.