FIDReC recorded 4,355 claims in FY2024/2025, marking its highest volume in twenty years and a sharp rise from the previous year. Scam activity and broader dispute growth across financial institutions contributed to the increase. Greater public awareness of the centre’s role also drove more filings.
Fraud and scam disputes climbed to 1,285 cases, up more than 50% and accounting for nearly half of all claims. FIDReC accepted 2,646 claims for handling, with early resolution procedures reducing formal caseload growth. The phased approach encourages direct negotiation between consumers and providers.
Chief Executive Eunice Chua said rising claim volumes reflect fast-evolving financial risks and increasingly complex products. National indicators show similar pressures, with Singapore ranked second globally for payment card scams. Insurance fraud reports also continued to grow during the year.
Compromised credentials accounted for most scam-related cases, often involving unauthorised withdrawals or card charges. Consumers reported incidents without knowing how their details were obtained. The share of such complaints rose markedly compared with the previous year.
Banks added safeguards on large digital withdrawals as part of wider anti-scam measures. Regulators introduced cooling-off periods, stronger information sharing and closer monitoring of suspicious activity. Authorities say the goal is to limit exposure to scams and reinforce public confidence.
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The UK government has confirmed that cryptocurrency traders will be required to report personal details to trading platforms from 1 January 2026. The move forms part of the Cryptoasset Reporting Framework (CAFR), aligned with an OECD agreement, and aims to improve compliance with existing tax rules.
Under the framework, exchanges must provide HM Revenue & Customs (HMRC) with customer information, including cryptocurrency transactions and tax reference numbers.
Traders who fail to supply required details could face fines of up to £300, while platforms may be fined the same amount per unreported customer. HMRC expects to raise up to £315 million by 2030 from the new reporting rules.
Experts warn exchanges may face challenges collecting accurate information, potentially passing compliance costs onto users. Some investors may initially turn to noncompliant platforms, but international standards are expected to drive global alignment over time.
The 2025 Budget also addressed the taxation of DeFi activities such as lending and staking. HMRC appears to favour taxing gains only when they are realised, although no final decision has been made and consultations with stakeholders will continue.
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AWS introduced major AI upgrades at re:Invent 2025, led by new agentic capabilities in Amazon Connect. Companies can now automate complex service tasks while customers engage with natural, multilingual voice interactions.
Customer service teams gain deeper support as agentic tools summarise conversations, prepare documents and manage routine actions. AI also drives personalised recommendations by combining live clickstream data with detailed customer histories.
AWS expanded its multicloud strategy by launching Interconnect multicloud with Google Cloud. The partnership enables private, high bandwidth links that avoid the complexity of traditional cross cloud networking.
Deepgram strengthened its collaboration with AWS by bringing real time speech models to SageMaker, Connect and Lex. Enterprises now deploy rapid speech processing across their AWS environments with improved performance and flexibility.
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France’s data regulator fined Les Publications Condé Nast €750,000 for unlawful cookie practices on vanityfair.fr. Investigators found consent-based cookies loading immediately when visitors landed on the site.
CNIL officials also noted unclear information describing several trackers as strictly necessary without explaining their true purposes. Users faced further issues when refusal tools failed to block or halt consent-based cookies.
Repeated non-compliance weighed heavily, as the company had already received a formal order in 2021. Earlier proceedings had been closed after corrective steps, yet later inspections showed renewed breaches.
The French regulator stated that millions of visitors were potentially affected by the unlawful tracking activity. The case highlights continuing enforcement efforts under Article 82 of France’s Data Protection Act.
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ByteDance unveiled a new AI voice assistant that will debut on ZTE’s Nubia M153 smartphone. The tool uses the Doubao large language model to handle spoken tasks such as content searches and ticket bookings.
ZTE’s shares jumped after the announcement, helped by strong interest in the device and recent 5G contract wins in Vietnam. The prototype handset is priced at 3,499 yuan and can be pre-ordered in limited quantities.
ByteDance confirmed discussions with multiple manufacturers to integrate the assistant into future smartphones. The firm stated it has no intention of developing its own hardware.
The assistant enters a competitive market led by Huawei and Xiaomi, while Apple has yet to introduce Apple Intelligence in China. Doubao remains China’s most popular consumer AI app, with 159 million monthly active users.
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Italy’s competition authority has launched an investigation into Meta over potential dominance in AI chatbots. Regulators are reviewing the new WhatsApp Business terms and upcoming Meta AI features. They say the changes could restrict rivals’ access to the platform.
Officials in Italy warn that the revised conditions may limit innovation and reduce consumer choice in emerging AI services. The concerns fall under Article 102 TFEU. The authority states that early action may be necessary to prevent distortions.
The case expands an existing Italian investigation into Meta and its regional subsidiaries. Regulators say technical integration of Meta AI could strengthen exclusionary effects. They argue that WhatsApp’s scale gives Meta significant structural advantages.
Low switching rates among users may entrench Meta’s market position further in Italy and beyond. Officials say rival chatbot providers would struggle to compete if access is constrained. They warn that competition could be permanently harmed.
Meta has announced significant new AI investments in the United States. Italian regulators say this reflects the sector’s growing influence. They argue that strong oversight is needed to ensure fair access to key platforms.
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Utah’s governor, Spencer Cox, has again argued that states should retain authority over AI policy, warning that centralised national rules might fail to reflect local needs. He said state governments remain closer to communities and, therefore, better placed to respond quickly to emerging risks.
Cox explained that innovation often moves faster than federal intervention, and excessive national control could stifle responsible development. He also emphasised that different states face varied challenges, suggesting that tailored AI rules may be more effective in balancing safety and opportunity.
Debate across the US has intensified as lawmakers confront rapid advances in AI tools, with several states drafting their own frameworks. Cox suggested a cooperative model, where states lead, and federal agencies play a supporting role without overriding regional safeguards.
Analysts say the governor’s comments highlight a growing split between national uniformity and local autonomy in technology governance. Supporters argue that adaptable state systems foster trust, while critics warn that a patchwork approach could complicate compliance for developers.
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Hopae is expanding into Europe with a €5M investment as the region prepares for mandatory EUDI Wallet adoption. The company aims to help businesses navigate multiple electronic identity systems before new requirements take effect in 2026 and 2027.
The firm plans to offer an intermediary platform that unifies eIDs and wallet-based verification. It says the model can ease compliance for regulated sectors and Very Large Online Platforms, which will need to accept EUDI Wallets under the EU rules.
Hopae has already signed a partnership with Luxembourg’s INCERT, becoming the first officially registered intermediary service. It secured OIDC certification and opened a Luxembourg office, naming Bertrand Bouteloup to lead its European expansion and trust-service ambitions.
The company says its system already integrates more than 50 eIDs and wallets, to reach 100 by mid-2026. CEO Ace Jaehoon Shim says demand for secure, wallet-based identity verification will require further investment across the continent.
Founded in 2022, Hopae previously developed the national vaccination pass in South Korea and has expanded into the United States. It is now contributing to the Korean Architecture Reference Framework while operating offices in Seoul, San Francisco, Paris, and Luxembourg.
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Vietnam has emerged as Southeast Asia’s leader in AI readiness, with daily usage, upskilling rates and data-sharing willingness topping regional rankings. Survey data show 81 percent of users engage with AI tools each day, supported by widespread training and high trust levels.
Commercial activity reflects the shift, with AI-enhanced apps recording a 78 percent rise in revenue over the past year. Investors contributed 123 million dollars to local AI ventures, and most expect funding to grow further across software, services and deep-tech fields.
Vietnam’s digital economy is forecast to reach 39 billion dollars in 2025, fuelled by rapid expansion across e-commerce, online media, travel and digital finance. E-commerce continues to dominate, while gaming and online payments record notable acceleration across broader markets.
Vietnamese government support for cashless payments and favourable travel measures further strengthens digital adoption. Analysts say that Vietnam’s combination of strong user trust, fast-growing platforms and rising investment positions the country as a strong regional technological powerhouse.
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Vietnam has moved to expand its use of Chinese 5G technology, awarding Huawei and ZTE a series of new contracts. Under recent deals, the two companies will supply advanced 5G radio equipment to strengthen network coverage, while European vendors remain responsible for core systems.
Vietnam, which borders China, Laos, and Cambodia, previously echoed allies’ warnings that Chinese-made 5G gear posed an unacceptable security risk. Recent tariff frictions with the United States and shifting economic priorities have since pushed officials to reconsider that stance.
According to local reports, Huawei and ZTE have together secured contracts worth about 43 million dollars for non-core 5G equipment. Ericsson and Nokia are expected to continue supplying the 5G core, with Chinese vendors focused on antennas and related infrastructure at the network edge.
In April, a consortium including Huawei won a 23 million dollar deal to provide 5G gear, shortly after new US tariffs on Vietnamese exports came into force. Analysts say those measures have strained ties between Hanoi and Washington while nudging Vietnam to deepen economic and technological links with Beijing.
Vietnamese supply chain specialist Nguyen Hung says Hanoi is prioritising its own strategic interests, seeing closer ties with Chinese vendors as a route to deeper regional integration. US officials warn the deals could damage network trust and limit access to advanced American technology.
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