Deepfakes and bots drive 1,530% surge in identity fraud in APAC
Identity fraud involving deepfakes and automated bots has surged globally, particularly in the Asia-Pacific region, which experienced a 1,530% increase in deepfake-related incidents. Social media platforms became a major fraud target, with attacks rising from 3% to 16% of total incidents between Q1 and Q2 2024. Cybercriminals are deploying AI-powered deepfake technology and impersonation bots to create fake accounts and manipulate online discourse for financial crimes including money laundering.
What happened
Identity fraud has evolved into a large-scale, coordinated effort driven by bots and deepfake technology, according to Au10tix's Q2 2024 report. The APAC region emerged as a hotspot for fraudulent activities, experiencing a 1,530% increase in deepfake-related incidents, with a fraud rate of 3.27% across all transactions.
Social media platforms became a primary target for identity fraud attacks, with incidents rising from 3% in Q1 2024 to 16% in Q2. Cybercriminals deployed automated impersonation bots, which account for 32% of global internet traffic, often enhanced with deepfake technology to create highly convincing fake profiles used to manipulate online discourse, spread disinformation, and commit financial crimes including money laundering.
Reported impact
The APAC region now has the world's highest fraud rate at 3.27% of all transactions. One major incident in the payments sector involved over 5,000 fraudulent onboarding attempts, demonstrating the scale of bot-driven attacks targeting the region.
Index analysis
Dan Yerushalmi, CEO of Au10tix, stated that 'bots and deepfake tech are enabling criminals to automate complex scams that used to take a lot more effort, making them incredibly efficient and dangerous,' noting that bots can mimic human behavior with sufficient variability to bypass traditional detection methods.
Governance controls
A 17% decline in payment sector fraud in Q2 was attributed to successful law enforcement operations, including INTERPOL's HAECHI IV and First Light campaigns, which targeted online financial crime and social engineering schemes in late 2023 and early 2024.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.