US EditionIdentity Fraud Surges in Scale and Sophistication, with APAC's Financial Services Becoming a Prime Target - Fintech Singapore
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Identity Fraud Surges in Scale and Sophistication, with APAC's Financial Services Becoming a Prime Target - Fintech Singapore
Identity fraud is evolving into a global issue, growing both in frequency and complexity. 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. Financial services have become a prime target. Between 2021 and 2024, identity fraud rates increased from 1.1% to 2.6% of all verifications analyzed worldwide …
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