Protecting People: Technology to Safeguard Consumers and the Financial System

The Global Anti-Scam Alliance’s 2024 Global State of Scams report unveiled the economic and emotional toll scams take on consumers, with over $1.03 trillion stolen globally in the past year. Certain regions proved to be impacted more heavily, with countries like Brazil, Hong Kong, and South Korea facing near-daily scam exposure, while nations such as Vietnam, Saudi Arabia, and China reported a noticeable drop in scam encounters, suggesting progress in local preventive efforts. What is working and how do we keep up with new avenues that target consumers through the financial system?
 
This roundtable invites discussion from regulatory agencies, institutions and technology companies on how they have been combating scammers and protecting people. It will explore the role of RegTech and SupTech in delivering safety, systemic stability, as well as fast digital security. The importance of access to precise data for superior analytics to support better consumer outcomes and enforcement will be considered as we learn from world leaders on how they are adopting, adapting and pushing digital boundaries.