Fraud Management & Cybercrime , Fraud Risk Management , Geo Focus: Asia
Alliance Between Telecoms, Banks Key to Fighting APP Scams
Mel Migriño of Gogolook Assesses the APAC Fraud Landscape in Financial Services
The surge in authorized push payment fraud in APAC underscores the urgent need for enhanced cooperation between banks and telecommunications companies. Both players should tap into AI and ML technologies for better fraud detection and real-time authentication, said Mel Migriño of Gogolook.
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Migriño, SEA regional director for Gogolook, said momentum for regional cooperation is growing.
"There's a lot of support that I have witnessed myself on a regional level. And this is all also expanding on an international scene," Migriño said.
To shore up defenses, banks must look to real-time authentication mechanisms "through the use of AI and taking data from different sources" to create a digital footprint and behavioral analytics that would lead to red flag alerts, she said.
In this video interview with Information Security Media Group, Migriño discussed:
- Ways to make banks and telecoms more liable for scams;
- The fraud landscape in APAC;
- Cross-sector cooperation to enhance digital security.
Migriño is regional director at Gogolook, a leading trust-tech company, and the country head for Philippines. She is also security governance director of the Global Anti-Scam Alliance based in the Netherlands and focused on Asia.
