Eavor’s next-generation geothermal project awarded €91,6 million grant from the European Innovation Fund

Source: Eavor Erdwärme Geretsried GmbH

DÜSSELDORF, Germany, March 09, 2023 (GLOBE NEWSWIRE) —  Eavor Technologies Inc. and Eavor Erdwärme Geretsried GmbH (together “Eavor”), the leader in globally scalable geothermal closed-loop technology, has been awarded a €91,6 million grant from the European Innovation Fund (“EIF”), in support of the Eavor-Europe™ geothermal project already under construction in Bavaria south of Munich near the town of Geretsried, Germany.

The project is the world’s first commercial implementation of an Eavor-Loop™, a showpiece of the zero-emissions heat and power production capabilities of next-generation geothermal technology, and a flagship site for the fundamental ability of Eavor-Loop™ to provide energy security and autonomy, globally.

Construction began in October 2022, with drilling scheduled to commence in July 2023. Two of Europe’s largest drilling rigs are already under a four-year contract with KCA-Deutag. An Organic Rankine Cycle (“ORC”) power plant is being designed and constructed simultaneously with drilling operations in collaboration with Turboden S.p.A., with the first energy production scheduled for Q4, 2024.

John Redfern, President, CEO and Co-Founder at Eavor Technologies Inc., stated: “I’d like to thank the European Commission. We at Eavor are humbled to be included in the EIF program alongside so many prestigious European multinationals. We believe this first commercial Eavor-Loop™ will open the floodgates to the broad implementation of what is the first truly scalable form of green baseload energy. In this way, we hope to help Europe solve its twin existential threats of Climate Change and lack of Energy Autonomy”.

The project will result in 8,2 MWe and ~44.000 tCO2e GHG emissions avoided per year including anticipated heat offtake and power sales. Eavor estimates that ~20.000 homes will be powered with clean energy harnessed from the Earth and up to 600 person-years of drilling services and powerplant/infrastructure jobs will be created during the construction phase of the project.

Philippe Dumas, Secretary General at the European Geothermal Energy Council, stated: “I’m glad to see the EC Innovation Fund supporting the geothermal project submitted by Eavor GmbH to commercially demonstrate innovative renewable district heating and power supply in Geretsried, Germany. Given the energy, climate and food security crisis as well as the need to meet the tripling of the geothermal target by 2030, this innovative project is of paramount importance: it will increase the security of electricity supply, help decarbonise the district heating sector, reduce greenhouse gas emissions and stimulate technological innovation all of which could also be replicated elsewhere.”

Daniel Mölk, President at Eavor GmbH, stated: “Eavor would like to thank regional stakeholders, the Bavarian/German Governments, the community, and operational partners generally. Eavor, and its project partners, Chubu Electric Power Co., Inc. and Enex Power Germany GmbH, are honoured to be so welcomed and supported by all.”

Project Summary

The Eavor-Loop™ at Geretsried, Germany will provide clean baseload energy for district heating and power generation. It consists of multiple large underground radiators buried at 4.500 metres. Operating under a natural thermosiphon requiring no pump and no aquifer, clean fresh water will circulate through the radiator carrying the heat to surface.

With no greenhouse gas (GHG) emissions during operation, Eavor-Loop™ will avoid almost 100% of the emissions compared to the reference scenario. Eavor-Loop™ is also an environmentally friendly solution: it can be installed virtually anywhere providing the EU with a scalable, secure source of renewable heat and power. An on-site visitor centre will be built and open to the public interested to know more about the technology and the operations of this first-of-kind implementation. – Eavor-Europe™ Webpage

About the European Innovation Fund (EIF)

With projected revenue of more than €38 billion by 2030 from the EU Emissions Trading System (ETS), the Innovation Fund aims to create the right financial incentives for companies and public authorities to invest in the next generation of low-carbon technologies and give EU companies a first-mover advantage to become global technology leaders. The EIF focuses on highly innovative technologies and big flagship projects within Europe. The European Commission is tasked with overall management and implementation of the fund and has designated the European Climate, Infrastructure and Environment Executive Agency (CINEA) as the implementing body of the fund.

The first call for large-scale projects awarded grants of €1,1 billion to 7 projects in energy-intensive industries, hydrogen, carbon capture, use and storage, and renewable energy.

The projects selected under the €1,8 billion second call for large-scale projects were evaluated by independent experts based on their ability to reduce greenhouse gas emissions compared to traditional technologies and to innovate beyond the state-of-the-art, while being sufficiently mature for deployment. Other selection criteria included the projects’ potential for scalability and cost effectiveness. – Innovation Fund

Reference material: Innovation Fund projects (europa.eu)

About Eavor Technologies Inc.
Eavor (pronounced “Ever”) is a technology-based energy company led by a team dedicated to creating a clean, reliable, and affordable energy future on a global scale. Eavor’s solution (Eavor-Loop™) represents the world’s first truly scalable form of clean, dispatchable, and flexible power. Eavor achieves this by mitigating or eliminating many of the issues that have traditionally hindered geothermal energy. Eavor instead circulates a benign working fluid that is completely isolated from the environment in a closed-loop, through a massive subsurface radiator. This radiator simply collects heat from the natural geothermal gradient of the Earth via conduction. info@eavor.com | Eavor.com

About KCA Deutag
With over 130 years of experience, KCA Deutag is a leading drilling, engineering and technology company working onshore and offshore with a focus on safety, quality and operational performance. We operate approximately 81 drilling rigs in 14 countries, either directly or through our affiliates, employing people in Africa, Europe, the Middle East, the Caspian Sea and Canada. KCA Deutag consists of our business units: Land, Offshore and Kenera. Land and Offshore are our operational divisions delivering safe, effective, trouble-free operations across 20 countries. Kenera brings together our design and engineering specialists RDS and land rig and oilfield manufacturer Bentec under one business unit. Kenera was established to expand our offering in both hydrocarbons and energy transition markets, with three dedicated segments covering innovative services, technology and engineering, and manufacturing. For further information on KCA Deutag please visit kcadeutag.com

About Turboden
Turboden S.p.A., Mitsubishi Heavy Industries group company, is an Italian firm and a global leader in the design, manufacture, and maintenance of Organic Rankine Cycle (ORC) systems, highly suitable for distributed generation, that generate electric and thermal power exploiting multiple sources, such as renewables (biomass and geothermal energy), traditional fuels, and waste heat from industrial processes, waste incinerators, engines, or gas turbines. Today Turboden expands its technological solutions with gas expanders and large heat pumps to play a broader role in the decarbonisation of the district heating sector and of energy-intensive industrial processes. turboden.com

Contact Data

Eavor Technologies Inc. Eavor GmbH
John Redfern Daniel Mölk
President & CEO President
John.Redfern@eavor.com Daniel.Moelk@eavor.com
Tel: +1-650-269-2501 Tel: +49 211 169759-0

Disclaimer: “Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or CINEA. Neither the European Union nor the granting authority can be held responsible for them.”

GlobeNewswire Distribution ID 8785402

Automobili Lamborghini’s “The Epic Road Trip” nears its destination with commemorative collectible celebrating the brand’s 60th anniversary

After 7 months of exclusive NFT drops, existing customers will receive a custom collectible to celebrate the iconic supercar manufacturer’s diamond jubilee.

Sant’Agata Bolognese, March 09, 2023 (GLOBE NEWSWIRE) — Automobili Lamborghini has nearly reached the end of “The Epic Road Trip”, an 8-month journey that culminates in a momentous milestone: the legendary brand’s 60th anniversary.

Developed in partnership with INVNT.ATOM™  and Web3 Pro, The Epic Road Trip invites owners and enthusiasts to collect the ultimate set of digital memorabilia to unlock utilities and experiences – including the opportunity to be one of the first to preview the latest Lamborghini model before it’s released to the public.

Collectors of “The Epic Road Trip” will also be rewarded with a variety of utilities and experiences, depending on their level of ownership:

  • Access to Collectors-only Discord community/channel
  • Exclusive mobile and desktop wallpapers
  • Centro Stile sketch from Mitja Borkert, Head of Design
  • GLB file for Lamborghini consumers to experience in the metaverse
  • An intimate VIP tour of the Lamborghini Sant’Agata headquarters
  • Exclusive first look at the latest Lamborghini model

As the 60th anniversary approaches, Lamborghini will leverage this opportunity to bring together in celebration both Lamborghini customers and “The Epic Road Trip” asset holders. “Lamborghini’s commitment to innovation extends beyond our super sports cars and into all aspects of our business – specially as we reach younger generations,” says Christian Mastro Marketing Director of Automobili Lamborghini. “The Epic Road Trip is the latest example of our unconventional approach which has powered us for six decades. As we celebrate 60 years of forward looking attitude, we want to reward customers and fans of the past, present, and future for their loyalty — giving them the chance to get further involvement and connection with the Brand.”

Lamborghini will commemorate the milestone with a 60th-anniversary digital collectible. Those visiting Lamborghini dealerships or attending IRL anniversary celebrations can scan a QR code to claim. At the same time, the commemorative collectible will be airdropped to “The Epic Road Trip” collectors who have purchased 2 or more NFTs across Drops 1 through 8.

In addition, all holders of the commemorative NFT will receive token-gated access to an exclusive, AMA-style session with senior Lamborghini executives discussing Lamborghini’s past, present, and future.

The final drop of “The Epic Road Trip” begins March 20th – 23rd, with the last opportunity for collectors to reach the finish line at Lamborghini NFT Marketplace.

While “The Epic Road Trip” will be concluding soon, this is only the beginning of Lamborghini’s Web3 journey as they continue to develop innovative engagement platforms that deepen their relationship with customers and fans which capture the essence of what it means to be a member of the Lamborghini community.

Photos and videos: media.lamborghini.com
Hype Reel of the campaign to date

Media kit (hi-res photos and bios)

Information on Automobili Lamborghini: lamborghini.com

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About Automobili Lamborghini’s “The Epic Road Trip”

Automobili Lamborghini, together with Web3 Pro and INVNT.ATOM, invite fans, collectors, and enthusiasts to be a part of The Epic Road Trip, a series of digital collectibles that unlock utilities, and experiences – including the opportunity to be one of the first to preview a new Lamborghini model. The collection consists of four NFTs released each month for 8 months, across 4 consecutive days, each available to purchase for 24 hours only. All base collectible NFTs will be limited to an edition of 1,963 and the fourth rare NFT will be available in a limited edition of 63 units. At the very end of the campaign, only those who have acquired all the monthly NFTs issued – either the three base NFTs or three base plus the limited edition – will receive a special NFT revealing the next Lamborghini model.

About INVNT.ATOM™

INVNT.ATOM, part of [INVNT GROUP] THE GLOBAL BRANDSTORY PROJECT™, is an innovation and brand experience agency devoted to helping global brands chart a course, navigate, activate, and create new opportunities at the digital frontier of Web3. Based in Singapore, the collective of strategists, marketers, creators, programmers, matchmakers, and thought leaders, turn strategies into stories and stories into experiences, that engage communities on the global stage. For more information about INVNT.ATOM, visit: www.invntatom.com.

About [INVNT GROUP]™

[INVNT GROUP] was established as an evolution of the founding global live brand storytelling agency INVNT. Led by President and CEO, Scott Cullather, [INVNT GROUP], THE GLOBAL BRANDSTORY PROJECT™ represents a portfolio of disciplines designed to help forward- thinking organizations innovate and impact audiences everywhere. The GROUP consists of modern brand strategy firm, Folk Hero; creative-led culture consultancy, Meaning; production studio & creative agency, HEVĒ; events for colleges and universities, INVNT Higher Ed; digital innovation division, INVNT.ATOM; creative multimedia experience studio, Hypnogram; and the original live brand storytelling agency, INVNT. For more information visit www.invntgroup.com.

About Web3 Pro™

Since 2018, Web3 Pro has been a pioneer in developing innovative technologies that enables enterprise brands, creative agencies, marketing agencies, and their clients to harness the power of Web 3.0, community-based marketing. Our platforms, including the NFT PRO white-label marketplace and HUB engagement platform, are designed with the end customer in mind, which enables successful campaigns and strategies that boost important revenue, engagement, and marketing-related key performance metrics. For more information about Web3 Pro, visit: www.web3pro.com.

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For “The Epic Road Trip” campaign & press inquiries:
Paola Cracknell
pcracknell@invnt.com

For [INVNT GROUP] and INVNT.ATOM press inquiries:
Jhonathan Mendez de Leon
jmendezdeleon@invnt.com

For Web3 Pro press inquiries:
Bekkah Frisch
bekkahf@web3pro.com

GlobeNewswire Distribution ID 8785335

Copenhagen Infrastructure Partners acquires South African renewable energy IPP

Copenhagen Infrastructure Partners, through its New Markets Fund I, today announced the acquisition of Mulilo Energy Holdings.

COPENHAGEN, Denmark, March 09, 2023 (GLOBE NEWSWIRE) — Copenhagen Infrastructure Partners (CIP) has through its Copenhagen Infrastructure New Markets Fund I (CI NMF I) acquired the majority share of Mulilo Energy Holdings (Mulilo), a leading South African renewable energy developer based in Cape Town. CIP will assume full control of the company, with the current founders and management remaining on board and driving the company’s growth. The financial details of the transaction have not been disclosed.

Mulilo was founded in 2008 and has seen sustained growth in the market. Today, the company holds an 8% market share in the South African renewable sector and has to date developed and successfully delivered 440 MW of operating wind and solar projects. In addition, the company holds an extensive pipeline exceeding 25GW across onshore wind, solar PV, and storage.

Niels Holst, Partner in CIP and head of NMF I, commented: “We are proud to have made CI NMF’s first ever investment in South Africa and in a platform company. Mulilo represents an attractive opportunity for CI NMF I to invest in a growing developer and we are certain that we can accelerate the positive trajectory of the company. CIP is committed to working closely with local stakeholders to rapidly deploy renewable energy projects in South Africa and make a positive contribution to the green transition, local employment and developing world leading capabilities in South Africa.”

Robert Helms, Partner in CIP, commented further: “We have found an excellent partner in Mulilo, its founders and broader team, who we have found to combine strong development skills and a highly entrepreneurial can-do spirit which we recognize at CIP. We believe the combination of Mulilo and CIP will make a meaningful positive contribution to resolve the energy crisis in South Africa with cost effective renewable energy.”

Christopher Aberdein, Co-founder and Chairman of the Mulilo Board of Directors, commented: “Mulilo is very excited about the partnership with CIP. Our company has enjoyed sustained growth in the South African market since our founding in 2008, and we look forward to accelerating that trajectory in coming years. With CIP taking a majority equity position at Mulilo, it gives our company the necessary tools and financial backing to make an impact in the renewable energy landscape in Southern Africa.”

The acquisition is subject to regulatory and change of control approvals from the Competition Commission.

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date (March 2023) raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP has approximately 400 employees and 11 offices around the world. For more information, visit www.cip.com

For further information, please contact:

Simon Mehl Augustesen, Chief Communication Officer
Phone: +45 3052 6721
Email: siau@cip.dk

Thomas Kønig, Partner – Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.dk

GlobeNewswire Distribution ID 1000797183

Nyxoah to Release Fourth Quarter and Full Year 2022 Financial Results on March 22, 2023

Nyxoah to Release Fourth Quarter and Full Year 2022 Financial Results on March 22, 2023

Mont-Saint-Guibert, Belgium – March 8, 2023, 10:30pm CET / 4:30pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced that the Company will release financial results for the fourth quarter and full year 2022 on Wednesday, March 22, 2023, after market close. Company management will host a conference call to discuss financial results that day beginning at 10:30pm CET / 4:30pm ET.

Investors interested in listening to the conference call may do so by registering for a unique personal PIN at the following link:  Conference Registration (vevent.com). A live and archived webcast of the event will be available on the Company’s investor relations website at https://investors.nyxoah.com/events.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

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GlobeNewswire Distribution ID 1000797004

We are the ‘Zs’ – The inspiring ASEAN New Generation documentary series screening

The voices, dreams and passions of the young, whose intersectionality creates desire for change in our current world, as told in a six part documentary series.

On Mar 8th, 2023, Thai PBS and the ASEAN Broadcasting Union hosted a documentary series screening in the Thai PBS mini theatre. The six short films, from Cambodia, Indonesia, Laos, Malaysia, Thailand and Vietnam, tell the stories of inspiring young people from developing ASEAN countries, whose ideas and passions bloom amid identity and conflict.

Four of the six documentaries explore various aspects of being a young person, with a compelling mission to better their lives while holding on to their cultures and identities.

“Tech for the Future” (from Cambodia) tells the story of a young person who is inspired to use robot technology to help elevate education for society at no cost. Producer Chamnan Pang declared his interest in technology, because “in Cambodia, the technology is not yet developed, so we have to promote awareness of and attention to technology for its potential for change.”

“Inheritors” (from Laos) tells of a young man whose passion is to preserve the art and history of his family’s silverware handicraft. Producer Vongmany Thepphavong stated that, nowadays, as the young are progressing towards the future, she hopes that this film will be an inspiring story of how the young can help maintain heritages.

“Growth” (from Thailand) draws on parallel stories in the coffee growing process and the personal growth of the people from Baan Chan Tai. Director and producer Chontipa Boongun mentions the transition from the traditional way of living and growing coffee beans to the age when the villagers decided to roast and refine the coffee themselves, improving on the lives of the previous generation of coffee producers.

“Kicking off the Lemoi Dream” is the story of a teacher whose mission is to bring his ethnic football team back to the field after COVID. The sounds and production have brought this friendly match near premier league excitement. Mohd Izzul Iswat Mohd Azman chose Lemoi School, because he wants to see how these district-champions maintain their game and win after the pandemic.

The other two films explore the intersectionality of minority women who want to break free from the norms through education.

“Towards The Sun” explores the life of a 14-year-old girl who has to persuade her father to let her go to school. “So sad but true, women do not have as many rights as men…her internal struggles and emotions when fighting the norms and authority cannot be expressed to other people,” said producer and director Pham Hoang Quynh Phuong, who is deeply interested in women’s intersectionality in the mountainous area. Being in the female minority, the film exposes conflicts through the layers of the protagonist’s identities.

“Light from the Beach”, in which two girls realise that learning English could enable them to break away from traditional marriage cultures inflicted on girls and could secure their futures with jobs. When asked why he chose the subjects, Welldy Handoko explained that he thought it is a good story to tell, not just the English learning aspect, but also how teenagers live their daily lives, which are related to the development of the Lombok.

Each screening ended with a discussion with producers, directors and audiences of various identities who shared their comments and ideas and this sparked conversation through the comparative context of ASEAN. The session ended with awards being presented to all producers and directors and a call to keep making documentaries that portray and push young people’s passions in a developing world.

Source: Thai Public Broadcasting Service (Thai PBS)

Many migrants are in Thailand for work and are undocumented

The reasons behind migration to Thailand are mainly for employment (92%) and fleeing violence and other purposes such as education and food security (8%), according The International Organisation for Migration’s (IOM) metrics on Cambodian and Myanmar migrants, surveyed between August and October 2022 among those living in Tak, Ranong, Rayong, Chanthaburi and Trat provinces.

The report covers an analysis of employment, documentation, wage levels and other basic welfare, such as food, healthcare, shelter and education, through the lens of nationality and gender.

Despite the overall data showing that the situations of those from Myanmar are more precarious than their Cambodia counterparts in several areas, both bear considerable risk in each area and are in need of serious development assistance. The report also points out an obvious discrepancy in opportunities between women and men in each area.

Documentation, Work, Wages and Education

The report found that 33% of Myanmar migrants are undocumented, especially those who live in Tak province, in contrast to the 1% of undocumented Cambodians. Female migrants are reported to be more often undocumented (22%) than males (7%).

The overall employment rate of Cambodian workers is considerably higher than Myanmar workers. 70% of Cambodians gain full-time employment with only 2% of them unemployed, while 34% of Myanmar workers are in full-time employment and over a quarter of Myanmar migrants (27%) were reported as unemployed. Women of both nationalities see higher levels of unemployment compared to men.

The lack of the documentation also correlated to lower-than-minimum wages. Almost 73% of the migrant workers receive a wage of 315 baht (~9 US dollars). The wages vary with each provinces’ minimum wage, with Rayong having the highest rates of 335 baht (with only 4% receiving under the statutory minimum wage).

Furthermore, the migrants’ lack of an expected level of education is pronounced in both nationalities, 97% of Cambodians and a slightly lower 76% of those from Myanmar. There is, however, the inverse among migrant children, who have not attended any formal learning spaces, with 31% of those form Myanmar and 22% of Cambodian children. The report suggests that about 23-28% of the households could not afford to send their children to both primary and secondary school, because older children have to support the family.

The Lack of Fundamental Welfare

As well as employment, migrants are facing a critical lack of fundamentals, required for a decent quality of life.

The lack of food security is reported to be most severe in Tak and Ranong provinces.

Lack of healthcare and shelter

The survey has also shown that 40% of migrant households lack health insurance, exacerbated by barriers to healthcare, such as distance, payment, discrimination and fear of being apprehended by authorities.

The survey also revealed that almost half of migrants (46%) were classified as living in a poor conditions, while 48% were classified as living in a good conditions. Only 6% live a decent lifestyle.

Serious risk

The serious risks facing migrants cannot be ignored. For adults, the risks include community violence (32%), forced labour (28%) and domestic violence (23%). Men were more concerned about forced labour (33%) compared to women (24%). Women, on the other hand, were slightly more concerned about domestic violence (25%) compared to men (21%). Among children, the risks also include child labour and child marriage.

The challenges and needs of migrant workers in Thailand are heavily related to basic human rights and welfare and, therefore, they need to be addressed and alleviated as soon as possible. As the report shows differences in gender, age, nationality and so on, it suggests that development assistance needs to be specifically designed to ensure the best support according to the individual’s needs.

Source: Thai Public Broadcasting Service (Thai PBS)

Thai Central Bank issues new measures to deal with online banking scams

The Bank of Thailand (BoT) has issued a new set of measures, to be implemented by commercial banks, in an effort to deal with mobile banking scams, including biometric identity verification for transfers of more than 50,000 baht, a ban on the sending of SMSs containing URLs and daily limits on money transfers.

BoT Governor Sethaput Suthiwartnarueput said today (Thursday) that the new measures are necessary in the wake of increased online banking scams, which have caused bank customers heavy losses and affected their confidence in digital banking.

One of the measures requires all commercial banks to stop sending short messages (SMS) or e-mails with links requesting their personal information, such as usernames, passwords or ID card numbers, said the BoT governor.

Another measure is for all commercial banks to limit mobile banking usernames for customers and the bank must notify their mobile banking users every time they undertake a transaction.

Banks are required to strengthen their identity verification through the use of biometrics, such facial recognition, when a customer wants to make online transfer of more than 50,000 baht or to increase the daily transfer limit to above 50,000 baht.

Banks are required to report any suspicious online transactions to the Anti-Money Laundering Office and to be equipped with a system that can detect suspicious transactions around the clock, so that they can immediately take action.

Additionally, Sethaput said that all commercial banks must have an emergency channel through which their customers can contact the bank when they suspect that their accounts have been breached by scammers.

He said that he expects all the measures introduced by the central bank to be implemented by commercial banks this month.

Source: Thai Public Broadcasting Service (Thai PBS)