NICE Actimize and Regulation Asia have unveiled their highly anticipated Fraud Barometer Report, providing an in-depth look at the current state of fraud in Asia. This comprehensive report highlights emerging trends, rising threats, and the key measures being implemented to counter fraud, as observed by fraud risk professionals across the region

Drawing on survey and interview data from 114 fraud risk practitioners from banks, fintechs, wealth management firms, and non-bank financial institutions (FIs) across nine APAC markets, the research reveals that payments and online banking fraud remain top concerns. This is largely driven by the growing digital consumer base and the adoption of faster payment systems.

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The report delves into critical insights, including:

• An overview of the APAC fraud risk landscape and key concerns for FIs
• Enhanced fraud detection and prevention measures being adopted
• The growing role of AI and technology in fraud risk management
• Initiatives to boost collaboration and information-sharing across the sector
• Emerging liability-sharing models and their potential impacts

This study sheds light on the practical challenges FIs face in combatting fraud, such as inefficient processes, reliance on manual systems, and the prevalence of functional silos, all contributing to rising consumer losses.

Featuring interviews with industry experts, including Melchor Plabasan and Dexter Macatangay from the Bangko Sentral ng Pilipinas (BSP), and Debra Au, Managing Director at DBS Bank in Hong Kong, the report offers invaluable perspectives on how financial institutions in the region are tackling these challenges head-on.

The Fraud Barometer Report aims to equip industry leaders with a deeper understanding of the complex fraud landscape, helping them stay ahead of emerging threats in the ever-evolving financial ecosystem.


 

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