Asia-Pacific has slipped from third to fourth place in global fraud protection, according to Sumsub’s latest Global Fraud Index. The report, released on 9 October, highlights increasing fraud exposure in the region, which now ranks just above Africa and behind Europe, the Middle East, and the Americas. Despite this, Singapore leads globally in government intervention, surpassing countries like Luxembourg and Denmark.
The study, conducted with Statista and the Digital Assets Association (DAA) Singapore, assessed fraud risk across 112 countries. It revealed that whilst New Zealand and Thailand have improved their fraud protection, key digital economies such as Singapore, Japan, Indonesia, and Malaysia have seen significant declines in their rankings. Timothy Owens, a tech and AI industry expert at Statista, noted, “Fraud protection isn’t about geography; it’s about governance.”
Singapore, despite its drop from first to tenth place, remains a leader in government intervention, reflecting its commitment to a robust anti-fraud infrastructure. The DAA’s Co-Chairman, Chia Hock Lai, emphasised the need for a unified response to sophisticated fraud, stating, “This isn’t just about statistics; it’s about protecting businesses.”
The 2025 Global Fraud Index offers insights into emerging threats and effective preventative measures, urging businesses and regulators to strengthen anti-fraud strategies. The report also expands its scope to include new countries like the Philippines and Vietnam, providing a comprehensive view of global fraud exposure. Sumsub will host its inaugural “What The Fraud” Summit in Singapore from 19 to 20 November, aiming to foster public-private partnerships in fraud prevention.
