LSEG Risk Intelligence’s Consumer Fraud Report 2026 found that as scams become more sophisticated — and increasingly powered by artificial intelligence (AI) — consumer fraud is reshaping trust across Asia-Pacific. Its impact extends beyond financial losses, influencing how people use digital services, make payments and interact with financial institutions.
Scams are no longer a peripheral risk across Asia-Pacific. They increasingly shape how consumers engage with digital services, payment platforms and financial institutions, as well as how much they trust them.
Key findings
– Fraud exposure is widespread: Nearly six in 10 adults across Asia-Pacific have been exposed to scams directly or indirectly during the past two years, with 23 percent reporting they were personally targeted.
– Losses remain significant: Among those targeted, 42 percent lost money, meaning about one in 10 adults overall became scam victims. Younger consumers were disproportionately affected.
– AI-driven scams are accelerating: About one in five consumers encountered AI-generated scam content during the past year, including voice clones, deepfake videos and fake customer service chatbots.
– Fraud changes behavior: Ninety-six percent of victims said they changed their behavior after being scammed, becoming more cautious when making payments and sharing personal information.
– Education gaps persist: Only 23 percent of consumers across Asia-Pacific said they felt very well educated about protecting themselves from scams.
As digital engagement expands across Asia-Pacific, consumer fraud is becoming a defining factor in public trust. Organizations seeking to protect customers and strengthen fraud prevention strategies must understand how scams influence confidence, behavior and decision-making.
For organizations operating across borders, regional differences matter. Fraud controls, consumer education and customer communication cannot follow a one-size-fits-all approach.
One of the most significant shifts identified in the research is the growing role of AI-enabled fraud. About one in five consumers across Asia-Pacific encountered AI-generated scam content during the past year, including voice clones, deepfake videos and fake customer service chatbots.
These tactics are not only increasing financial losses but are also changing consumer behavior. Nearly half of respondents exposed to AI-driven scams said they were less likely to trust calls from unknown numbers, while many also reported becoming more suspicious of video calls, professionally produced online advertisements and digital endorsements.
For financial institutions and digital platforms, this erosion of trust presents a dual challenge: reducing fraud losses while maintaining customer engagement and transaction conversion.
The report also makes clear that fraud is not solely a financial issue. Its human impact extends well beyond monetary losses. Nearly half of scam victims across Asia-Pacific reported feeling anger or frustration, while many also experienced anxiety, embarrassment or shame. In markets such as Hong Kong and Australia, concerns about financial security were particularly pronounced.
These emotional effects result in lasting behavioral changes. An overwhelming 96 percent of victims said they changed how they behaved after being scammed, becoming more cautious when making payments, more protective of their personal information or avoiding certain digital channels altogether. Although greater caution may reduce future fraud, it can also create friction, slow digital transactions and diminish the customer experience if organizations fail to respond appropriately.
Despite living in increasingly high-risk digital environments, most consumers do not feel adequately prepared. Education remains one of the sector’s greatest challenges.
Only 23 percent of respondents across Asia-Pacific said they felt “very well educated” about protecting themselves from scams, while about one in five said they were unaware of any protections or support available if they became victims.
This gap between exposure and preparedness is particularly concerning as scams become increasingly sophisticated. In several markets, awareness of emerging threats such as deepfakes and QR code scams remains limited, even among digitally active consumers.
Ultimately, the report argues that trust has become a core fraud metric. Organizations that combine effective fraud controls with clear communication, consumer education and rapid response mechanisms are better positioned to reduce losses while preserving confidence in digital services.
Markets such as Hong Kong, where high scam exposure is accompanied by comparatively lower financial losses, suggest that vigilance, collaboration and timely intervention can significantly improve consumer resilience.
The report, based on responses from 7,000 consumers across Asia-Pacific, illustrates the scale of the challenge and why organizations across banking, fintech and payments need to rethink how fraud risk is managed.