At Money 20/20 Asia, TrustDecision joined Mastercard, Agoda, VIDA Digital Identity to expose the alarming rise of AI-driven fraud networks at the panel discussion.
April 29, 2025
5 minutes
Tanya
Bangkok, Thailand – April 2025 — TrustDecision, a fast-growing global RiskTech company, took center stage at Money 20/20 Asia last week, where its Chairman Jackal Ma joined industry leaders in a high-impact panel discussion titled “Fraud Going Global: Unveiling AI-Driven Fraud Networks.”
The session, moderated by Megha Khetarpal, Senior Director of Global Fraud Products at TransUnion, brought together senior executives from Mastercard, Agoda, VIDA, and TrustDecision to tackle one of the financial sector’s most pressing issues: the rise of cross-border, AI-powered fraud networks.
As financial ecosystems digitize rapidly across Asia-Pacific and other emerging markets, fraudsters are evolving just as fast. Nicholas Stipp, VP of Services Partnerships at Mastercard, revealed that over 200 million compromised card records are currently accessible on the dark web—just one part of a much larger problem. Moderator Megha Khetarpal added that globally, more than 24 billion breached credentials—usernames, passwords, and other pieces of identity data—have been exposed through data leaks. “That’s three times the population of the planet,” she pointed out, illustrating the massive scale and availability of stolen data powering fraud across sectors.
“Fraud today is agile, adaptive, and opportunistic. When a method fails in one sector, fraudsters pivot to another—be it fintech, travel, or e-commerce,” said Stipp. “It’s no longer just about rules—it’s about real-time intelligence, powered by AI.”
TrustDecision's Chairman, Jackal Ma, emphasized that advanced fraud prevention now hinges on understanding context, not just flagging anomalies.
“We use multi-modal machine learning and Large Language Models (LLMs) to detect fraud patterns across identities, documents, and devices,” he explained. “For example, we distinguish between blurry images and intentionally manipulated ones—something basic OCR can’t do. That’s the depth modern fraud detection requires.”
He also urged organizations to rethink their internal structures. “Fraud often slips through the cracks when detection efforts are spread across siloed departments. Fraudsters count on this disconnection. The solution isn’t just tech—it’s team alignment, backed by the right tools.”
The panel also addressed key regional challenges. Yaron Slutzky, CSO of Agoda, shared real-world examples from the travel industry, including fraudsters impersonating platforms like Agoda to scam hotel partners.
Meanwhile, Sati Rasuanto, Co-founder and CEO of VIDA, spoke about the importance of cultural sensitivity in identity verification AI—particularly in Southeast Asia, where technologies have historically failed to recognize individuals wearing hijabs or helmets. She also noted that while responsible AI is gaining attention, regulation often lags behind. VIDA has responded by working with fintech associations to create self-regulatory codes of conduct for ethical AI usage.
While the panel offered sharp insights into the future of fraud defense, Money 20/20 Asia proved just as valuable for relationship building and ecosystem engagement.
The event attracted financial institutions, fintech startups, regulatory bodies, and thought leaders from across Asia-Pacific and beyond. With participants representing a wide spectrum of the financial ecosystem—including risk officers, compliance leads, technologists, academics, and media—the conference offered a well-rounded view of the challenges and innovations shaping the region.
For TrustDecision, it was a meaningful opportunity to strengthen relationships with local partners and listen closely to the specific needs of different markets. These conversations are helping inform the next evolution of the company’s products—whether it’s enhancing risk signals for underserved user groups or improving AI inclusivity based on cultural nuances.
The evening networking sessions were another highlight—offering relaxed and insightful discussions across professional backgrounds. “We were reminded that building digital trust isn’t just about sophisticated algorithms—it’s also about open dialogue, diverse perspectives, and shared intent,” said Elaine Cheong, Regional Marketing Manager at TrustDecision.
TrustDecision is a leading RiskTech and RegTech company committed to enabling digital and financial inclusion across emerging markets. Through advanced AI, real-time risk analytics, and contextual identity intelligence, TrustDecision helps businesses—from fintechs and digital banks to e-commerce platforms—detect fraud, manage risk, and build trust with their users.
For media inquiries or partnership discussions, please contact:
📧 mkt@trustdecision.com
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TrustDecision empowers businesses with AI-driven decision engine designed for fraud prevention, credit risk decisioning and ensure regulatory compliance. It leverages on machine learning models and big data capabilities to deliver real-time risk insights with accuracy and automate decision-making process to deliver maximum operation efficiency.
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