New Global Trends research highlights several countries around the world intensified efforts in countering online scams, including by updating some of their respective regulatory frameworks.
Data on online scams in Australia, Brazil, Canada, Hong Kong, Singapore, South Africa, the UK and the US shows that scams are increasing, and so are the losses reported by victims.
The increasing availability of digital payment platforms and apps, some of them offered by non-banking institutions, has offered economic and social opportunities all over the world. At the same time, only a small fraction of scam victims manages to block in time or recover money sent to scammers via instant payments.
Among the countries analysed in this Global Trends research, some already implemented technical measures that facilitate the detection and blocking of suspicious incoming calls and/or messages.
New regulatory proposals are currently being debated in some countries on:
- the possible review of current liability frameworks applicable to online service providers and financial institutions; and
- whether (and how) scams victims should be compensated for their financial losses.
For more information and access to the report, please click on “Access the full content” - or on “Request Access”, in case you are not subscribed to our Global Trends service.
more news
28 March 24
Mobile mergers and competition law
Since 2004, 11 out of the 13 mobile mergers notified to competition authorities in the European Economic Area faced some form of intervention, with 3 of these transactions being blocked or withdrawn due to competition concerns. Our new Antitrust & Mergers Explainer looks at the assessment of mobile mergers, focusing on the European Commission’s case law over the past 20 years.
27 March 24
Regulating deepfakes in times of elections
In 2024 billions of people will be called to vote in different parts of the world. And a malicious use of deepfakes may affect citizens’ trust in their institutions and even manipulate human behaviour, including how they vote. This Global Trends report discusses recent policies and regulations on the use of deepfakes in the context of election processes.
20 March 24
[INFOGRAPHIC] Cullen cheat sheet on obligations and prohibitions under the Digital Markets Act
Cullen International has updated its cheat sheet providing an overview of the obligations of the EU Digital Markets Act (DMA) that the first companies designated as gatekeepers had to comply with by 7 March 2024.