IMF, World Bank launch 'Bangkok Blueprint' to fight cyber fraud

BANGKOK, Oct 14 (Reuters) - ‌The International Monetary ​Fund ​and World Bank on Wednesday released a framework for tackling cyber-enabled fraud, as the ‌Thai government underlined the mounting cost of online ⁠scams that have roiled the region.

• The framework, known as the ‌Bangkok Blueprint for Fraud-Resilient ‌Financial Services, is aimed at assisting policymakers, regulators, financial institutions and other stakeholders, but is not formal ​IMF-World Bank policy guidance

• "Digital fraud and scams have become a global problem," Thai Finance Minister Ekniti Nitithanprapas ⁠said at the launch of the framework at the annual IMF and ​World Bank meetings in Bangkok. "It has cost the world economy around $1 trillion annually, or 3% ​of GDP"

• In Asia Pacific ‌alone, scam gangs defrauded residents of at least $88 billion in 2025, according to the ⁠United Nations Office on Drugs and Crime, with transnational crime groups rapidly evolving tactics to stay ahead of law enforcement

• "Asia ⁠accounted for 67% of global fraud losses in 2024," said Bank ​of Thailand Governor Vitai Ratanakorn. "The region has accumulated valuable experience combating this threat, offering up practical lessons that countries can adapt ‌to their own"

• The expansion of cyber fraud is threatening to reverse the ‌gains made by digital finance, which allowed people who ⁠otherwise have no access ‌to the financial system ​to access it, said IMF Managing Director Kristalina Georgieva

(Reporting by Devjyot Ghoshal; Editing by John ‌Mair)

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