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Our Scans · (FS.7.01) Fraud · Weekly Summary


  • [New] Reserve Bank of India issued an advisory for all banks to adopt the Financial Fraud Risk Indicator developed by the Department of Telecommunications. SSBCrackExams
  • [New] The European Banking Authority has already highlighted that fraud risks are significantly higher in instant payments - up to 10 times higher than in traditional credit transfers - putting banks on notice that robust real-time fraud detection is expected. Flagright
  • [New] Fraud that victimizes U.S. investors, individuals, and markets including, Ponzi schemes, investment fraud, elder fraud, service member fraud, and fraud that threatens the health and safety of consumers. ICR
  • [New] The global cost of financial fraud is expected to surpass £500bn annually, with cyber criminals leveraging increasingly sophisticated techniques such as deepfake social engineering, synthetic identities, and artificial intelligence - powered money laundering. Financier Worldwide
  • [New] The first flagship use case, an on-chain land register, exemplifies how blockchain can mitigate fraud risks, ensure data integrity, and streamline compliance processes for governments and regulatory bodies worldwide. SEAL Semiconductors
  • [New] In the US alone, bank fraud could be reduced by $51 billion and cards and payments fraud by $7 billion. Macro 4
  • Major Australian retailers use AI-driven analytics to manage inventory and predict consumer demand, while banks employ AI algorithms to detect fraud faster and more accurately. Appomate
  • Online payment fraud poses a severe and multifaceted threat, resulting in substantial financial losses for both businesses and consumers globally. FinExtra
  • Blockchain: Blockchain technology is beginning to gain traction in Mexico's real estate sector, enabling automated and transparent transactions, reducing the need for intermediaries and minimizing fraud risks. Garrigues
  • Artificial intelligence and machine learning will strengthen fraud detection, transaction monitoring, and compliance in real-time, securing the global payments environment. Credence Research Inc.
  • Financial services alone may see an estimated $20 billion annual contribution from quantum computing by 2030, with applications ranging from portfolio optimization to risk modelling and fraud detection. CAQA Resources
  • The Securities and Exchange Board of India is set to implement a validated UPI handle for investor-facing intermediaries to ensure secure payments and reduce fraud risks. EDUREV.IN
  • Security experts identify three major Android malware threats emerging in 2025: embedded firmware-level malware in budget smartphones, evolved banking trojans with full surveillance capabilities, and NFC-relay fraud targeting contactless payments. Forensic Focus
  • By mid-2026, World ID could be embedded into major fintech and social platforms, especially where fraud and identity theft are rampant. UNDERCODE NEWS
  • With payment fraud and scams-related losses continuing to increase, digital wallets' advanced security features, such as encryption and tokenization, safeguard user information and reduce the risk of fraud. Digital Transactions
  • As APAC's fintech and healthtech sectors continue to expand - with fintech projected to reach US$ 1.15 trillion by 2032 and digital health US$ 488.5 billion by 2033-Sumsub warns that fraud risks are likely to scale alongside industry growth. Fintech Singapore
  • 96% of UK fintechs we have spoken to say that they are investing in fraud prevention in 2025, and identity risk solutions are their top investment for reducing fraud. FinExtra
  • The latest tranche of AI agents is purpose-built to handle time-consuming risk and compliance tasks, including: risk reviews, fraud detection, global tax compliance, sustainability compliance, anti-bribery compliance, and legal reviews. Yahoo Finance
  • Blockchain has the potential to reduce fraud by up to 50% in transactions. Grady Andersen
  • Blockchain adoption in supply chain management could reduce fraud by 35%, improve transparency, and enhance operational efficiency. Market Data Forecast
  • In a bold move to combat the rising threat of deepfakes and synthetic identity fraud, Google has a cutting-edge Know Your Customer innovation aimed at bringing more security and trust to digital identity verification. demandteq
  • The inclusion of bank account information in the Palantir database could make individuals more vulnerable to identity theft, fraud, and other financial crimes. County Local News
  • Sectors like fintech and online marketplaces are seeing high rates of payment fraud attacks, while the total cost of digital commerce fraud could hit US$ 107 billion by 2029. BiometricUpdate.com

Last updated: 08 July 2025



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