APAC fraud surge: deepfakes and generative AI exploitation
Deepfake and AI-generated fraud has surged in the APAC region, with identity fraud increasing 121% according to industry reports. Organised criminal groups primarily based in China operate cyber scam centres in Southeast Asia that use deepfakes and impersonation to defraud victims of billions of dollars globally.
What happened
Fraud and scams in Southeast Asia have surged significantly since the pandemic, with deepfakes emerging as a growing threat alongside traditional fraud methods.
Organised criminal groups, primarily from China, operate cyber scam centres in Cambodia, Laos and Myanmar, impersonating legitimate entities including government agencies, banks and tech companies to trick victims into providing sensitive information, making payments or downloading malicious software.
Reported impact
Identity fraud in APAC increased by 121% according to Sumsub data.
Globally, 78% of respondents encountered at least one scam scheme in the previous 12 months and 59% reported encountering scams monthly, with scams causing an estimated US$1.026 trillion in losses.
Index analysis
The LexisNexis Risk Solutions 2024 Cybercrime Report revealed a 19% year-over-year increase in the global human-initiated digital attack rate in 2024.
Authorised push payment fraud is highlighted as a growing trend in Southeast Asia, where scammers exploit human vulnerabilities to initiate fraudulent transactions.
Governance controls
Experts recommend that organisations adopt a multi-faceted approach combining cutting-edge technology and cross-industry collaboration to share risk insights to address evolving fraud trends in Southeast Asia.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.