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Digital fraud is nothing new; it’s been a problem since the early days of the internet. The problem has historically been focused on markets like North America and Europe. That may be changing, though.
A recently released report from transaction monitoring firm Sumsub points to an alarming increase in fraudulent activity within the Asia-Pacific (APAC) region. Their 2024 Identity Fraud Report reveals that, between 2023 and 2024, the APAC region experienced a 121% increase in the number of verified identity fraud attacks.
Instances of identity fraud rose most precipitously in Singapore; the city-state witnessed a 207% increase in attacks compared to the
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