SINGAPORE: Singapore registered the highest year-on-year increase in identity scam among countries in the Asia-Pacific region , in 2024, according to a study.
According to the most recent Identity Fraud Report from verification and monitoring platform Sumsub, which was released on Tuesday ( Nov 19 ), the number of these cases increased by 207 percent from 2023.
This was considerably higher than the region’s overall boost of 121 percent.
Thailand and Indonesia followed closely behind with boosts of 206 per share and 201 per cent respectively.
Among the top five identification fraud varieties globally are the use of false documents such as fake IDs and passports,” chargebacks” where customers dispute genuine transactions to get refunds, scam networks where organised groups use many accounts for criminal activities, accounts takeovers, and deepfakes.
The document was based on data from over 3 million scams efforts across different sectors, said Sumsub.
It also conducted a study in August this year of over 200 scams and danger experts, more than 1, 000 end-users in areas like banking, bitcoin, obligations and e-commerce, and consumers from 18 countries.
GLOBAL RISE IN DEEPFAKES
Sumsub’s review found a four-fold increase in the number of deepfakes worldwide, accounting for seven per cent of all fraud attempts.
Deepfakes refer to controlled photographs, videos or tones used to mimic people.
In Asia-Pacific, Singapore came in shared next with Cambodia for an increase in algorithmic assaults, with a surge of 240 per share.
The highest improve was in South Korea, which was 735 percent.
Deepfakes are a hot topic in the area, with 85 % of respondents worried about their potential influence on elections, according to the document.
In Singapore, the next general election had been held by November next month.