Digital wallet use rises, as do scams and money laundering

Homepage > News > Finance > Digital wallet use rises, as do scams and money laundering The good, the bad, and the ugly of digital wallets were on full display this week, as several recently published reports highlighted the technology’s utility and increasing consumer adoption for travel and cross-border payments, but also by scammers and money launderers for less savory purposes. Digital wallets reshape travel as AI adoption grows HKMA warns of scams targeting mobile card binding FATF flags digital wallets in underground money laundering Consumers rely on digital wallets for travel; AI adoption accelerates Digital wallets, artificial intelligence (AI), and interoperability are now foundational to how consumers travel and transact across borders, according to a new study by Alipay+—the unified wallet gateway of Ant International—in partnership with financial intelligence giant S&P Global (NASDAQ: SPGI). The study—which surveyed 6,000 consumers across nine markets in Asia, Europe, and the United States on their cross-border spending habits—pointed to a major shift underway in global commerce, where consumers increasingly expect mobile wallets to evolve beyond payments i...