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Manila Bulletin devider Business devider Trade & Industry devider Asia-Pacific business leaders sound alarm over AI-powered cyber fraud

Asia-Pacific business leaders sound alarm over AI-powered cyber fraud

Published Jul 14, 2026 02:19 pm
Kevin Tan
Kevin Tan
Asia-Pacific business leaders are demanding stricter artificial intelligence (AI) governance and tighter cross-border policing to counter the surge in sophisticated online scams and cyber fraud across the region.
The APEC Business Advisory Council (ABAC), meeting in Bangkok, Thailand, formalized a set of policy recommendations targeting the misuse of emerging digital tools. The council is calling for the regional synchronization of data legislation and the establishment of common digital standards to ensure AI is developed and deployed responsibly.
Cybercriminals are increasingly leveraging AI to create highly convincing deepfakes, impersonate high-profile individuals, and execute complex phishing and investment schemes. The sophisticated nature of these cross-border digital crimes requires closer law enforcement collaboration and unified policy coordination across multiple jurisdictions, according to the council.
Kevin Tan, president and chief executive officer of Alliance Global Group Inc., joined the council as a newly appointed member representing the Philippines. During the session, Tan advanced the country’s priorities on AI and sustainable development, noting that the council's recommendations are highly critical for the Philippine market.
“Preparing Filipino workers, professionals, entrepreneurs, and students for the opportunities and risks presented by AI will be essential to ensuring the country remains competitive and that more Filipinos can benefit from the next wave of technological transformation,” Tan said.
The integration of AI technologies presents structural risks to the Philippines, where the digital economy is expanding rapidly.
Tan emphasized that a modern governance framework must balance open innovation with consumer safeguards to protect public trust. To shield the domestic workforce from technological disruption, Tan urged the government to increase public and private capital deployment into technical training, digital capability-building, and workforce upskilling by leveraging the best practices of more technologically advanced APEC peers.
The policy proposals were finalized during ABAC’s third regional assembly of the year, which brought together corporate executives from the 21 APEC member economies under the organizational theme of "Openness, Connectivity, Synergy."
The finalized corporate directives will be formally presented to regional heads of state during the annual APEC Economic Leaders’ Dialogue scheduled for November in China. (James A. Loyola)

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APEC Business Advisory Council (ABAC) Kevin L. Tan Alliance Global Group Inc.
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