Fraud in Asia Pacific’s (APAC) healthtech and fintech sectors has surged dramatically, according to new data from global verification provider Sumsub. The report, covering the first quarter of 2025, reveals a staggering 723% increase in healthtech fraud and a 116% rise in fintech fraud compared to the same period last year. This alarming trend underscores the growing sophistication of AI-driven fraud tactics targeting rapidly expanding digital services.
The report highlights that the use of synthetic identity documents and deepfakes is on the rise, exploiting gaps in security systems. Synthetic identity fraud cases have jumped 233% across APAC, significantly outpacing the global increase of 195%.
Singapore and Hong Kong have seen particularly sharp rises in deepfake-related fraud, with increases of 1,500% and 1,900% respectively.
Penny Chai, Vice President of APAC at Sumsub, noted, “The scale of fraud in healthtech signals a worrying new frontier. As more healthcare services go digital, the sector’s vulnerabilities are being exploited at pace, putting trust in the digital health system at serious risk.”
The report suggests that traditional Know Your Customer (KYC) systems are being tested by these sophisticated fraud methods. In response, Sumsub advocates for businesses to adopt multi-layered, adaptive defences to stay ahead of fraudsters.
To address these challenges, Sumsub will host its inaugural What The Fraud Summit in Singapore from 19 to 20 November 2025. The event aims to bring together industry leaders, regulators, and fraud experts to discuss strategies for combating the global rise in fraud.
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