Bangkok: Authorities are tightening controls on "online loans" after discovering "trap contracts" that exploit the public. Supamas Isarabhakdi, Minister attached to the Prime Minister's Office, is spearheading efforts to address this issue by overhauling the Consumer Protection Board's laws to align with the digital age.
According to Thai News Agency, Ms. Supamas Isarabhakdi disclosed that Prime Minister Anutin Charnvirakul, who also serves as the Minister of Interior, has expressed concern about consumers' engagement with online services, particularly "digital contracts" in loan agreements. These contracts may contain loopholes that businesses exploit, imposing unreasonable terms on consumers. As the overseer of the Office of the Consumer Protection Board (OCPB), she has directed the agency to urgently resolve these issues and set standards for consumer protection contracts. Ms. Supamas stressed the need for the OCPB to rigorously regulate "loan businesses" and electronic contracts to ensure fairness for the public.
Recently, Mr. Ronnarong Poolpipat, Secretary-General of the Consumer Protection Board (CPB), proposed three definitive strategies to bolster consumer protection. Firstly, the enforcement of contract control laws will be strengthened through the Committee on Contracts Announcement B.E. 2565 (2022), which categorizes consumer lending businesses as regulated contract businesses. This requires adherence to specified contract terms and bans unfair clauses, such as disclosing information to third parties without consent, applicable to both written and electronic contracts.
Secondly, regulations will be established to oversee contracts in various business sectors, including condominium sales, agricultural machinery leasing, car and motorcycle rentals, and beauty services, ensuring these also cover electronic contracts. Thirdly, efforts will be made to integrate governmental and private sector cooperation to review and amend laws, adapting to the evolving digital landscape.
The OCPB will revisit the Committee's Announcement on Contracts to standardize contract templates, aiming to foster fairness in business-consumer agreements, whether on paper or electronically. This initiative supports consumer rights under the mantra, "OCPB: Close at Hand, Peace of Mind for Consumers."
Consumers experiencing unfair contract terms or hardships can seek assistance by calling the OCPB hotline at 1166, or by filing a complaint via the OCPB Connect application or the website at www.ocpb.go.th, available 24/7.