The Evolution of Law against Payment Frauds

This book explores the evolution of legal institutions in Asia to combat payment fraud, focusing on Greater China and Singapore. It highlights the shifting trend from criminal sanctions to regulations of payment intermediaries due to the complexity of payment systems and the challenge of protecting them. It also identifies the underlying actors and institutional characteristics driving this evolution and how new technology may impact the market and legal institutions.

Format: Paperback / softback
Length: 195 pages
Publication date: 09 December 2022
Publisher: Taylor & Francis Ltd

This comprehensive book delves into the intricate evolution of legal institutions in Asia, specifically focusing on the strategies employed to combat fraudulent activities that plague payment systems. It explores the multifaceted challenges posed by payment fraud, including forged cheques, wrongful payment instructions, and other fraudulent schemes, and examines the legal frameworks in Greater China and Singapore to address these issues.

The past century has witnessed a remarkable transformation in the payment system, with the advent of innovative technologies and modes of payment. While these advancements have brought convenience and efficiency to transactions, they have also opened up new avenues for fraudsters. Despite the advancements in computer technology, payment fraud remains a significant concern, causing billions of dollars in losses globally each year.

To address this complex problem, the book employs a comprehensive approach, examining payment instruments and associated frauds across different periods. It highlights a shifting trend in legal solutions, moving away from criminal sanctions and civil compensation towards a more regulatory focus on payment intermediaries. This shift reflects the intricate nature of payment systems and the challenges involved in protecting them.

The book identifies the key underlying actors and institutional characteristics that drive the evolution of legal institutions in combating payment fraud. It explores how the arrival of new technologies, such as blockchain and artificial intelligence, may impact the market and, in turn, influence the evolution of legal frameworks. By providing a detailed analysis of these factors, the book offers valuable insights for regulators, financial institutions, practitioners, end users, and anyone interested in understanding the interplay between technology, the market, and law in the context of payment fraud.

In conclusion, this book is a valuable resource for anyone seeking to gain a deeper understanding of the evolving landscape of legal institutions in combating payment fraud. It provides a comprehensive analysis of the challenges faced by payment systems, the trends in legal solutions, and the potential impact of new technologies on the market. By offering insights into the complex interplay between technology, the market, and law, the book aims to assist readers in better understanding payment fraud and developing effective strategies to combat it.

Weight: 358g
Dimension: 155 x 234 x 16 (mm)
ISBN-13: 9780367624354