Members

(14 August 2025) – Thailand is grappling with an unprecedented surge in scams, as revealed in the State of Scams in Thailand 2025 report, jointly published by the Global Anti-Scam Alliance (GASA), ScamAdviser, and Whoscall. Over the past year alone, financial losses from scams have reached a staggering ฿115.3 billion (approximately $3.2 billion).

The nationally representative survey highlights several alarming trends:

• Scam exposure is widespread, with 72% of adults facing scam attempts regularly—averaging 172 incidents annually, or nearly one every other day.
• 60% of respondents have fallen victim to scams, and 14% have suffered financial losses.
• Investment scams top the list, affecting 66% of victims, followed by shopping scams (63%) and job-related scams (53%).
• Children are increasingly targeted, with 27% of parents reporting scam attempts directed at their children aged 7 to 17.
• Reporting yields limited recovery, as 74% of victims notify payment platforms, yet only 29% manage to reclaim any funds. Meanwhile, 44% report experiencing severe stress.
• Scammers rely heavily on direct messaging, with phone calls (68%) and SMS (56%) being the most common channels. Popular platforms like Facebook, Gmail, and TikTok also serve as frequent points of contact.

The report urges a unified response from both government and private sectors to enhance support for victims, streamline reporting mechanisms, and deploy preventive measures that intercept scams before damage occurs.

To view the report, visit https://www.gasa.org/research.

(7 August 2025) – The Hong Kong Federation of Electronic Commerce (HKFEC) and the Malaysia Cross Border E-Commerce Association (MCBEA) have entered into a strategic partnership to deepen commercial and trade cooperation between Hong Kong and Malaysia. This collaboration was officially established through a Memorandum of Understanding (MoU) signed on July 23, 2025.

Through this agreement, both organizations will work together across several key initiatives:

• Enhancing cross-border trade and business networking opportunities
• Hosting exhibitions, forums, and trade delegations to showcase innovative commerce models
• Co-developing educational resources such as seminars, training sessions, and joint publications
• Facilitating member-to-member business matching and sharing market intelligence

Joseph Yuen, Chairman of HKFEC, commented, “Partnering with MCBEA opens exciting avenues for cross-border e-commerce. This alliance not only reinforces economic connectivity between our regions but also empowers our members to scale their businesses across Asia.”

MCBEA President Dato Danny Tan Eng Ching added, “Joining forces with HKFEC marks a pivotal moment for MCBEA. Together, we aim to build a more unified and thriving e-commerce landscape between Malaysia and Hong Kong.”

About HKFEC
The Hong Kong Federation of Electronic Commerce is a prominent organization dedicated to advancing e-commerce in Hong Kong. It offers a collaborative platform for businesses to connect, exchange insights, and explore digital growth opportunities.

About MCBEA
Established in 2019, the Malaysia Cross Border E-Commerce Association is a national non-profit committed to enhancing trade competitiveness through digital channels. MCBEA supports cross-border commerce by partnering with government bodies, industry leaders, and regional associations, while providing its members with resources in education, talent development, networking, exhibitions, and business matchmaking.

For more details, visit https://hkfec.org/highlight/mcbea_partnership/.

(18 July 2025) Banca Transilvania (BT), Romania’s largest financial institution and a major banking force in Central and Eastern Europe, has officially become a Corporate Member of the Global Anti-Scam Alliance (GASA). The move marks a pivotal step in BT’s commitment to combatting online fraud and reinforcing digital security across the region and beyond.

Serving over 4 million customers, BT has long championed digital innovation and financial inclusion. Its partnership with GASA reflects a strategic push to strengthen consumer protections and deepen industry collaboration against the growing threat of scams and cybercrime.

“The security of Banca Transilvania customers’ funds is a priority for us,” said Andrei Voicu, BT’s Anti-Fraud Director. “The partnership with GASA will support us in a deeper understanding of the global dynamics of online fraud. Combating this phenomenon requires the collaboration of all actors involved—banks, authorities, telecommunications companies, major online and social media players—and GASA plays an essential role as a global integrator.”

BT’s regional insight and proactive anti-fraud approach are expected to enhance GASA’s global efforts to detect, prevent, and dismantle scam operations worldwide.

The Global Anti-Scam Alliance welcomed BT’s membership, underscoring the importance of public-private partnerships in strengthening resilience against digital threats.

For more details, visit https://www.facebook.com/share/p/1B4aUYLWFQ/.

(15 July 2025) – CyberSecurity Malaysia has entered into a Memorandum of Collaboration (MoC) with Time dotCom Berhad, representing a pivotal move to enhance Malaysia’s cybersecurity strength and foster the nation’s digital trust framework.

This partnership lays the groundwork for a sustained and strategic alliance focused on driving the country’s digital progress and reinforcing its cyber ecosystem. By pooling their knowledge, skills, and resources, both organizations aim to elevate national cyber capabilities, promote digital trust, and contribute to a safer online environment for everyone.

The MoC signing took place at the Kuala Lumpur Convention Centre, officiated by YBrs. Tuan Roshdi Hj Ahmad, Chief Operating Officer of CyberSecurity Malaysia, and YBrs. Tuan Azhar Adnan, Chief Executive Officer for Enterprise and Public Sector at Time dotCom Berhad. The event was witnessed by YBhg. Dato’ Ts. Dr Haji Amirudin Bin Abdul Wahab, CEO of CyberSecurity Malaysia, and YBhg. Datuk Zainal Amanshah, Executive Director at Time dotCom Berhad.

For more details, visit https://www.facebook.com/share/p/1P9913cFMq/.

(7 July 2025) – The Hong Kong Federation of E-Commerce (HKFEC) is set to participate in the Singapore FinTech Festival (SFF) 2025, reinforcing its role in driving regional digital collaboration and innovation in financial technology. Taking place from 12 to 14 November 2025 at Marina Bay Sands, SFF celebrates its 10th edition as a world-leading platform for the convergence of policy, finance, and technology.

Recognized globally as a premier fintech event, SFF brings together stakeholders from central banks, financial institutions, regulators, startups, and tech firms to accelerate smarter, more inclusive, and resilient financial ecosystems. This milestone year will spotlight a decade of progress and explore bold solutions to persistent challenges facing the global financial landscape.

HKFEC’s involvement underscores its commitment to cross-border digital trade, cybersecurity, and e-commerce transformation. By joining SFF, the federation aims to amplify Hong Kong’s e-commerce capabilities while contributing to regional discussions on trust, transparency, and digital finance.

The festival is co-organized by the Monetary Authority of Singapore, Global FinTech Institute (GFTN), and Constellar, in collaboration with the Association of Banks in Singapore. It features keynotes from thought leaders, innovation showcases, and policy roundtables focused on advancing fintech frontiers.

As part of its participation, HKFEC will engage in dialogues on digital trust, data ethics, and regulatory harmonization—core areas shaping the future of e-commerce and financial technologies. Its representation brings valuable insights from one of Asia’s most vibrant trade and innovation hubs.

For program details and registration, visit https://hkfec.org/highlight/singapore-fintech-festival-sff-2025/.