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Regulators must be as tech savvy as the scammers – panel

Officials say fraudsters’ use of AI means central banks will need a more agile approach to supervision

IT fraud

Constant changes in technology mean supervisors will have to become more collaborative and agile when dealing with fraud, according to panellists at the Central Banking Meetings, Kuala Lumpur.

In a discussion on April 1, four central bankers from European jurisdictions discussed the ways in which regulators could collaborate effectively to tackle the problem. The panel chair said identity theft, instant payment fraud and money laundering powered by artificial intelligence were resulting in

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