APAC OverviewThe report finds that while some countries in the region saw their social engineering scam losses decline, the volume of sessions that exhibit scam behaviours more than doubled (108 per cent increase) in the last year. Here’s a look at banking fraud in other APAC countries/regions:SingaporeSingapore, the report states, saw an explosion in its volume of scam cases, in spite of additional controls. It saw a rise in scams via WhatsApp and Telegram, including impersonation (friends), investment, and eCommerce (fake purchases).Other major concerns were:Australia/New ZealandAustralia saw 5 per cent fewer fraud cases involving attack tools (RAT, malware, etc.) in 2023 than it did in 2022, the report states. Still, the top scams across the country over the past year were related to the following:Mobile malwareSocial engineering scams (investment, romance, purchase, and impersonation)Mule accountsPhishing (credit cards)Southeast Asia (SA region)The Southeast Asian region comprises eleven countries namely, Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. These countries saw a surge in phishing attacks and app-based frauds such as the following:Hong KongHong Kong also witnessed a surge in social engineering scams related to investment, romance, purchase, and impersonation which were majorly done with the use of AI voice and face. Like other APAC regions, it continued to grapple with mule accounts, mobile malware via accessibility services and QR code payment frauds.
sekar nallalu banking,Cryptocurrency Investment, Impersonation Scams Among Top Banking Frauds In India: Report