Singapore registers Asia-Pacific's biggest spike in identity fraud, driven by deepfake surge

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Singapore registers Asia-Pacific's biggest spike in identity fraud, driven by deepfake surge​

A study found that fears in the region round the impact of deepfakes on elections were high, including in Singapore where next polls must be held by November 2025.

An illustrated depiction of how a scammer might steal a credit card through online means. (Photo: iStock)

A study found that fears in the region round the impact of deepfakes on elections were high, including in Singapore where next polls must be held by November 2025.

An illustrated depiction of how a scammer might steal a credit card through online means. (Photo: iStock)

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SINGAPORE: Singapore registered the highest year-on-year rise in identity fraud among countries in the Asia-Pacific region in 2024, according to a study.
The number of such cases surged by 207 per cent from 2023, according to verification and monitoring platform Sumsub’s latest Identity Fraud Report released on Tuesday (Nov 19).
This was significantly higher than a 121 per cent increase across the whole region.
Thailand and Indonesia followed closely behind with increases of 206 per cent and 201 per cent respectively.
Among the top five identity fraud types globally are the use of fake documents such as fake IDs and passports; "chargebacks" where customers dispute legitimate transactions to obtain refunds; fraud networks where organised groups use multiple accounts for criminal activities; account takeovers; and deepfakes.
The report was based on data from over 3 million fraud attempts across various industries, said Sumsub.
It also conducted a survey in August this year of over 200 fraud and risk professionals; more than 1,000 end-users in sectors like banking, cryptocurrency, payments and e-commerce; and consumers from 18 countries.

GLOBAL RISE IN DEEPFAKES​

Sumsub's report found a four-fold increase in the number of deepfakes globally, accounting for seven per cent of all fraud attempts.
Deepfakes refer to manipulated images, videos or voices used to impersonate individuals.
In Asia-Pacific, Singapore came in joint second with Cambodia for an increase in deepfake attacks, with a rise of 240 per cent.
South Korea experienced the highest increase at 735 per cent.
Concerns about deepfakes are high in the region, with 85 per cent of respondents expressing fear about their future impact on elections, the report found.
In Singapore, the next general election must be held by November next year.

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Deepfakes have already made headlines in Singapore for nefarious reasons.
In April, several Members of Parliament, including Foreign Affairs Minister Vivian Balakrishnan, were among dozens who received extortion letters with manipulated photos that depicted their faces superimposed onto obscene images.
Last year, Senior Minister Lee Hsien Loong – who was then still prime minister – was in an altered video discussing an investment opportunity purportedly approved by the Singapore government, in an interview with a news presenter.
More recently, deepfake nude photos of Singapore Sports School students were created and shared by other students.

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POTENTIALLY "DEVASTATING" IMPACT​

Associate Professor Natalie Pang, head of the communications and new media department at the National University of Singapore, said the report’s findings were “worrying” and pointed to challenges for Singapore, especially in terms of cybersecurity.
“If they are not addressed, the losses and harms arising from the fraud and attacks can be devastating,” she said.
Singapore is a prime target for fraudsters due to the high volume of digital transactions that take place in the country, said Assoc Prof Pang.
“We also have a digital economy characterised by high trust which means that people are less skeptical of schemes that are fraudulent,” she noted.
“Additionally, Singapore is one of the most globally connected which also means that it is easier for scams and frauds to reach us.”
Ms Penny Chai, Sumsub’s vice president of business development in the Asia-Pacific, said the surge in fraud observed in Singapore emphasised that “even highly developed markets in the region are vulnerable to increasingly complex fraud schemes”.
“Singapore’s push towards a cashless society, with the widespread use of digital wallets, QR code payments and contactless transactions, has introduced new avenues for fraud,” said Ms Chai.
While such payment systems bring convenience, they also come with vulnerabilities that fraudsters can exploit, she noted.

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SINGAPORE’S APPROACH​

In response to queries from CNA, the Cyber Security Agency of Singapore (CSA) refrained from commenting on the contents of Sumsub's report, but highlighted the "serious" threat of deepfakes.
Attempts to weaponise the technology for scams or fraud are projected to grow, due to the widespread accessibility of tools to create highly convincing deepfakes at a relatively low cost, a spokesperson said.
“For example, AI technology has now made face swap technology increasingly accessible, hence making spoofed identities easier and highly-scalable, and able to bypass remote identity verification,” he added. “This is a trend that is likely to stay.”

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Home Affairs and Law Minister K Shanmugam revealed in April this year that the Singapore Police Force (SPF) has received some reports alleging deepfake techniques used by scammers. But "the number is not high".
Still, there have been recent moves in this area, including a S$20 million (US$15 million) initiative to grow new capabilities to keep pace with deepfakes; a Centre for Advanced Technologies in Online Safety; as well as legislation such as an Online Criminal Harms Act and a law banning deepfakes during elections.

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WHAT TO DO AS INDIVIDUALS​

Assoc Prof Pang urged people to be vigilant and practice good cyber-hygiene, such as enabling two-factor authentication to protect their accounts and encrypting sensitive data.
“Staying informed of the various fraud schemes that are emerging, and enhancing one's AI literacy in order to recognise deepfakes, is essential,” she added.
Associate Professor Hannah Yee-Fen Lim from Nanyang Technological University said that even with knowing the precautions to take, individuals can still be susceptible to ploys which use social engineering.
“Most of the time, the fraudsters use highly emotive methods that provoke strong emotions that tend to override their logic and common sense,” she explained.
“That's why love, kidnapping and inheritance scams have worked so well, because people are so drawn in by love and money that they cannot see through the fraud.”
She added that there has to be greater awareness on the potential harms from mobile phone apps and social media usage.
To avoid falling prey to deepfake scams, individuals need to have a healthy sense of scepticism regarding deals or promotions offered to them online, or through phone calls which are often made out as "urgent", CSA added.
Its spokesperson offered a simple tip to expose fraudsters: Individuals should ask the caller a question that only a few people would know, such as when they last met in person.