{"id":13303,"date":"2024-11-21T13:14:02","date_gmt":"2024-11-21T06:14:02","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=13303"},"modified":"2024-11-21T13:14:02","modified_gmt":"2024-11-21T06:14:02","slug":"sumsub-apac-sees-121-increase-in-identity-fraud-with-deepfakes-becoming-a-growing-threat","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=13303","title":{"rendered":"Sumsub: APAC Sees 121% Increase in Identity Fraud, with Deepfakes Becoming a Growing Threat"},"content":{"rendered":"\n\n\n
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SINGAPORE<\/span><\/span>, Nov. 21, 2024<\/span><\/span> \/PRNewswire\/ — Sumsub<\/a><\/u>, a full-cycle verification platform, released its fourth annual Identity Fraud Report<\/u><\/a> today, highlighting a continued rise in identity fraud across the Asia Pacific<\/span> region (APAC), driven by increasingly sophisticated\u00a0fraud tactics and the widespread use of Fraud-as-a-Service (FaaS). According to internal verification data, there was a 121% Year-on-Year (YoY) increase in identity fraud in 2024 across the region, with significant surges recorded in Singapore<\/span> (207%), Indonesia<\/span> (205%), and Thailand<\/span> (201%). Notably, deepfake fraud saw a 194% YoY spike in APAC and increased 4x globally, now making up 7% of all fraud attempts in 2024, from 2023.<\/p>\n

\"Sumsub<\/a>
Sumsub released its fourth annual Identity Fraud Report, highlighting a continued rise in identity fraud across the Asia Pacific region (APAC).<\/span> <\/div>\n

“As the digital economy in APAC continues to grow, the evolving nature of fraud presents new challenges that businesses cannot afford to ignore. With tactics becoming more sophisticated and fraud becoming more accessible, the need for enhanced verification measures is more urgent than ever. Robust identity protection is not just a preventive measure but a fundamental part of securing the future of digital businesses and protecting consumers in an increasingly complex landscape,”<\/i> said Penny Chai<\/span>, Vice President of Business Development, APAC at Sumsub<\/b>.<\/p>\n

Other key findings from the report include:<\/p>\n