The financial sector is going through a rapid digital transformation, but cybercriminals are adapting just as quickly. Banks are forced to spend heavily to keep ahead of surging financial fraud. Across the Asia-Pacific region, 98% of financial institutions have had to scale up their compliance operations, driving costs above $45 billion. This surge reflects a shift toward integrated anti-fraud strategies, with governments and industries rolling out targeted national responses to counter increasingly sophisticated threats .

Hong Kong authorities have launched Scameter, a mobile fraud alert system that that notifies users of high-risk transactions. Singapore has introduced the Shared Responsibility Framework , which allocates scam loss responsibilities to financial institutions and

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