Quicker, nimbler scammers outrun Asian banks in cyberfraud ‘arms race’

Banks across Asia are pouring billions into artificial intelligence systems to detect fraud, but regulators and analysts say the region is still losing ground to nimble and adaptable scam syndicates using the same technology to find new ways to steal money. AI is now central to how lenders monitor transactions, screen sanctions and verify customers, helping them flag suspicious activity faster. Yet experts say the systems remain limited by what data they are trained on and by how quickly...