Banking Leaders Tackle Rising Digital Fraud Risks in Colombo 📈

Sri Lanka’s financial sector leaders recently convened for the "Fraud Management Deep Dive 2026," co-hosted by IFINITY and BPC, to address escalating security threats in the rapidly evolving digital payments landscape. • Strategic Shift: Industry experts emphasized moving beyond isolated, channel-based controls toward enterprise-wide fraud management. This integration is critical for maintaining trust as instant payments and mobile banking continue to grow. • Emerging Threats: Discussions highlighted new risks including AI-driven impersonation, synthetic identities, and authorized push payment (APP) fraud, requiring faster detection and coordinated response across risk and compliance teams. • Technology & Compliance: The forum underscored the need for AI-powered platforms, such as BPC’s SmartVista, to monitor transactions in real-time. New regulatory expectations for technology risk management and incident reporting are now driving mandatory upgrades in bank monitoring systems. • Economic Impact: With BPC supporting over 60% of APAC countries and major tier-1 projects in Sri Lanka, the focus remains on ensuring that the ICT/BPM and banking sectors remain resilient to sustain national financial stability.