APAC Fintech Faces 116% Spike in Fraud Linked to Deepfakes, Synthetic IDs - Fintech Singapore

APAC Sees Massive Surge in Deepfake Fraud Across Fintech and Healthcare Sectors

The Asia Pacific (APAC) region has experienced a substantial increase in deepfake and synthetic identity document fraud within the fintech sector, according to new data from Sumsub, a leading identity verification provider. The company’s latest report indicates a 116 percent year-on-year increase in fintech fraud from Q1 2024 to Q1 2025. The healthcare technology sector has recorded an even more dramatic surge, with fraud incidents rising by 723…

APAC Fintech Faces 116% Spike in Fraud Linked to Deepfakes, Synthetic IDs - Fintech Singapore

Fraud in Asia Pacific’s fintech and healthtech industries has risen sharply over the past year, according to new data from global verification provider Sumsub. The report highlights that fintech recorded a 116 percent year-on-year increase in fraud cases during the first quarter of 2025, while healthtech saw an even steeper rise of 723 percent—the highest across industries in the region. Sumsub attributes the growing threat to the widespread use…