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Identity Fraud Surges in Scale and Sophistication, with APAC’s Financial Services Becoming a Prime Target

Fintech News

Data from identity verification specialist Sumsub reveal that identity fraud incidents have more than doubled in the past three years, with account takeovers and deepfakes emerging as major concerns. Deepfake cases grew even more significantly, surging fourfold between 2023 and 2024 to account for 7% of all fraud attempts.

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Sumsub Combats Fraud Networks in APAC With Upgraded Solution

Fintech News

Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution. The incidence of network fraud in APAC is notably higher than in other regions, with Asia reporting an average of 2.6%

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Here Are the Top 10 Must-Attend Sessions at Money20/20 Asia 2024

Fintech News

Singapore witnessed a staggering 33% rise in deepfakes in Q2 2023, highlighting a global escalation of this threat. In the APAC region alone, there are 11 profitable digital banks out of 13, marking this as a thriving space. 3 Programmable Money: Advancing Financial Inclusion or Creating Walled Gardens, Powered by J.P. . #4

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Here Are the Top 10 Must-Attend Sessions at Money20/20 Asia 2024

Fintech News

Singapore witnessed a staggering 33% rise in deepfakes in Q2 2023, highlighting a global escalation of this threat. In the APAC region alone, there are 11 profitable digital banks out of 13, marking this as a thriving space. 3 Programmable Money: Advancing Financial Inclusion or Creating Walled Gardens, Powered by J.P. . #4