Synthetic intelligence (AI) is rising as a rising menace to non-public safety, with public confidence in on-line authenticity persevering with to erode amid rising fears of manipulated content material and AI-friend deception.
A brand new research by Jumio discovered that 74% of shoppers in Singapore imagine AI-powered fraud now poses a better menace to non-public safety than conventional types of identification theft, underscoring the speedy proliferation of AI instruments to commit fraud.
The Jumio 2025 On-line Identification Examine polled greater than 8,000 grownup shoppers within the US, the UK, Singapore and Mexico, to evaluate client consciousness round points involving on-line identification, fraud dangers, and present strategies used to guard client information.
Findings spotlight not solely rising consciousness of AI-driven fraud, but in addition the rising sophistication of such assaults. In comparison with 12 months in the past, 71% of Singapore shoppers stated AI-generated scams are more durable to detect than conventional scams, reflecting this rising complexity.
Rising considerations in Singapore
Shoppers are additionally turning into extra conscious of the dangers of conducting life and enterprise on-line, with Singaporean shoppers expressing above-average concern in contrast with international respondents: 84% of Singaporean respondents fear about pretend digital identification paperwork created utilizing AI, 8 factors above the worldwide common; 82% fear about rip-off emails or messages that use AI to trick folks into making a gift of passwords or cash, additionally above the worldwide common of 75%; 83% fear about movies or voice recordings that look or sound actual, in comparison with the worldwide common of 74%; and 81% fear about being fooled by manipulated social content material, versus 72% globally.
Increased ranges of concern in Singapore might be attributed partially to the town state’s excessive digital penetration and cashless financial system. Singapore is some of the digitally related societies on this planet, boasting near-universal smartphone use, robust e-commerce use, and a authorities push towards a cashless financial system. This robust reliance on digital platforms makes the nation’s inhabitants extra uncovered to fraud dangers, with criminals having taking discover.
In response to a research by Sumsub, Singapore registered the very best year-on-year (YoY) rise in identification fraud amongst nations in Asia-Pacific (APAC) in 2024, with circumstances surging by 207% from 2023. This was considerably greater than the 121% enhance reported for the entire area.
Particularly, deepfakes, which use AI to control photographs, movies or voices to impersonate people, are surging, accounting for 7% of world fraud makes an attempt in 2024, marking a fourfold YoY enhance.
In APAC, Singapore got here in joint second with Cambodia for a staggering 240% enhance in deepfake assaults.
Excessive-profile circumstances underscore the specter of deepfakes. In March, Singapore Prime Minister Lawrence Wong warned that deepfakes of him had been getting used to promote cryptocurrencies, money-making schemes, and everlasting residency utility companies.
Final 12 months, over 100 authorities officers and businesses acquired extortion emails containing deepfake photographs, demanding the equal of US$50,000 in cryptocurrencies in return for not releasing the visuals.
The emails contained a picture purporting to be a screenshot from the video in query. Manipulated photographs of political workplace holders and public officers’ faces had been clearly identifiable within the picture. The pictures of the political workplace holders and public officers appeared to have been sourced from open sources reminiscent of LinkedIn, in accordance to the Ministry of Digital Devqelopment and Info (MDDI).
Accountability and regulation
As considerations rise, shoppers are calling for better accountability from expertise corporations. The Jumio research discovered that 43% of world respondents imagine bigtechs needs to be chargeable for stopping AI-powered fraud, in comparison with simply 18% who stated people needs to be accountable.
In Singapore, regulators have already began appearing. Just lately, authorities ordered Meta, the mother or father firm of Fb, to implement stronger safeguards to guard customers from scams. The agency could possibly be fined as much as S$1 million (US$776,000) if it fails to conform, Reuters studies.
In August, Singapore’s house affairs ministry discovered that 37.6% of all e-commerce scams reported in 2024 had been perpetrated on Fb. These scams usually concerned the sale of products and companies on-line, which weren’t delivered after cost was made.
It additionally rated Fb Market because the weakest platform amongst six e-commerce marketplaces by way of anti-scam options deployed. That is regardless of the platform having applied measures reminiscent of enhanced person verification, in addition to in-product security notices and market messenger anti-scam notices.
AI Fraud Webinar Tomorrow
With tech corporations going through mounting stress to answer more and more subtle fraud ways, Fintech Information Singapore can be internet hosting a webinar on September 09, 2025, 3:00PM SGT.
This occasion will discover the brand new face of economic crime, specializing in rising tendencies together with deepfakes, voice cloning, and fraud-as-a-service. It would additionally look at Singapore’s evolving regulatory response, and talk about finest practices for holding fraud controls efficient with out undermining person expertise. Featured audio system embrace fraud and threat leaders from GoTyme Financial institution, CIMB Singapore, Rizal Industrial Banking Company (RCBC), and Jumio.
Featured picture: Edited by Fintech Information Switzerland, based mostly on picture by DC Studio through Freepik
