Turning Problems into Opportunities: Empowering Thai Startups to Capture the Emerging "Crime Tech" Market
According to the Online Crime Reporting Center of the Royal Thai Police, the top three online scams causing the highest financial losses over the past three years are: Investment fraud through digital platforms, job-related money transfer scams, and phone call extortion (Call Center scams). Other cybercrimes, such as romance scams, continue to cause significant damage. This aligns with data from True CyberSafe, which detects over 7 million suspicious links per day, protecting more than 50 million users, highlighting the alarming surge in cyber threats. Despite this growing danger, Thailand currently has fewer than 10 startups developing cybersecurity solutions, even though the market remains wide open with enormous growth potential. Gartner, Inc., a leading global IT research and advisory firm, forecasts that end-user spending on information security in Thailand is projected to total 18.4 billion baht in 2025, a 12.3% increase from the previous year. This presents a crucial moment for Thai startups to step up, unleash innovative ideas, and turn them into real business opportunities through the True CyberSafe x TrueMoney Hackathon Thailand 2025.
Mr. Ekaraj Panjavinin, Chief Digital Officer and (Acting) Chief Business Officer, True Corporation Plc., said that "True Corporation is committed to leveraging its robust digital infrastructure and integrated ecosystem to enhance the quality of life in society, promote equitable access to technology, and empower people to make the most of it. At the same time, we are dedicated to advancing a safer digital society. Cyber threats are becoming increasingly severe and widespread, causing damage to both individuals and businesses. In response, True has developed various innovations to enhance customer safety, such as the intelligent cybersecurity system 'True CyberSafe', which helps protect users online. However, we believe this urgent issue requires collaboration from all sectors. That's why True has launched the "True CyberSafe x TrueMoney Hackathon Thailand 2025" in partnership with both public and private organizations. This initiative provides a platform for startups, young innovators, and the public to present creative ideas and develop them into real-world innovations that benefit society, addressing cyber threats, reducing losses, and helping everyone live more safely in the digital age."
Ms. Monsinee Nakapanant, Co-President of Ascend Money, the operator of TrueMoney, stated, "Today, digital financial apps have become an integral part of everyday life. They are used for money transfers, online purchases, and various services. At the same time, the risks associated with cyber threats are rising and becoming increasingly complex. Without a strong protection system, user trust and the broader digital economy could be severely impacted. As a leading digital financial platform in Southeast Asia, TrueMoney prioritizes proactive risk prevention. We've developed an in-app triple-layer defense system called 'TrueMoney 3X Protection,' which leverages AI to detect and stop fraudulent behavior in real time. Our technology has proven to effectively counter the growing threat of scams, including malicious money-draining apps. Beyond technology, we're also tackling risks through user education, collaboration with relevant agencies, and dedicated expert and customer support teams ready to respond swiftly in emergencies. All these help elevate the safety standards of our services. Moreover, we believe that tackling today's complex cybersecurity threats requires collective innovation and cooperation. That's why we see the 'True CyberSafe x TrueMoney Hackathon Thailand 2025' as a vital opportunity for young talent to develop solutions that are not only functional but also secure, user-friendly, and trustworthy, which will strengthen Thailand's digital economy in a safe and sustainable way."
Form Your Team and Compete for over 430,000 Baht in Prizes and Scholarships!
The "True CyberSafe x TrueMoney Hackathon Thailand 2025", taking place from 14 June to 29 November 2025, invites innovators, startups, students, and the general public across Thailand to submit creative ideas in teams of 4 - 5 people to tackle cyber threats and help build a safer digital world. Solutions should address one of three key challenge areas: Safe Internet Use, Safe Financial Transactions, or Safe Digital Living, with a focus on three target groups: Youth, seniors, and foreign tourists or workers in Thailand. The competition is divided into two categories: the general public/startups (no age limit) and university students (from any year or institution, including mixed teams). The top 30 teams will advance to the hackathon and join the True Lab Incubation Program, while the top 6 teams in the startup/general track will receive innovation funding to further develop their ideas into practical solutions. Applications are open now until 11 July 2025. For more information, visit https://linktr.ee/true_lab or follow True Lab on Facebook.
