The fintech industry in the Asia-Pacific region is facing unprecedented fraud threats. According to the latest data from Sumsub, fraud rates in Hong Kong soared by 234% in Q1 2025 compared to the previous year, with mainland China experiencing an even higher increase of 2390%.

Against this backdrop, global leading verification platform Sumsub has deepened its strategic cooperation with top data service provider DKM ECO in the Asia-Pacific region. Together, they are offering innovative solutions for financial institutions to address compliance challenges through the “Comply to Fortify 2.0” Asia-Pacific Roadshow.

Asia-Pacific Fintech Faces Severe Challenges

According to Sumsub’s global verification data (Q1 2024 – Q1 2025):

01. Hong Kong fintech fraud cases have surged by 234%
02. Mainland China’s fraud growth rate reached 2390%
03. 76% of fraud occurs after users pass initial verification

This data reveals that traditional entry checks are no longer sufficient to combat AI-driven professional fraud networks. Financial institutions urgently need to establish risk management systems that cover the entire user lifecycle.

Setting a New Benchmark for Compliance in Asia-Pacific

Sumsub and DKM ECO’s strategic collaboration focuses on three core values:

01. Agile Response
Adapting dynamically to the latest requirements from regulatory bodies such as the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC).

02. Full Lifecycle Protection
A one-stop verification platform from KYC to continuous transaction monitoring.

03. Seamless Implementation
Successfully empowering fintech and Web3 businesses in Hong Kong, Mainland China, Singapore, and the Philippines.

“Compliance is no longer optional; it is the cornerstone of business survival,” emphasized Penny Chai, Vice President of Sumsub Asia-Pacific. “Our cooperation with DKM ECO is aimed at providing financial institutions with solutions aligned with the Greater Bay Area and Asia’s regulatory vision.”

Roadshow Highlights: Practical Guides + Technical Demos

The Hong Kong stop of the Asia-Pacific Partner Roadshow attracted representatives from financial institutions, virtual banks, and cryptocurrency firms. Key highlights included:

“Practical Guide to Virtual Bank/Crypto License Applications in Hong Kong”:
Revealing key points for regulatory approval.

Best Practices for AML/CFT under HKMA Framework:
Compliance operations and case analysis.

AI Deepfake Detection Demo:
Live demo of “face-swap” fraud detection.

Zmark Zheng, Senior Digital Consultant at DKM ECO, stated, “By integrating Sumsub’s verification technology with our data service network, businesses can achieve global compliance at a lower cost.”

November 2025: Global Anti-Fraud Summit in Singapore

As a pioneer in the anti-fraud field, Sumsub will host the inaugural What the Fraud Summit in Singapore on November 19-20, 2025, at the Andaz Hotel, gathering global digital trust experts to tackle the “fraud epidemic.”

👉 Don’t forget to follow the Sumsub Official WeChat for the latest summit updates!

In an era of increasingly sophisticated fraud methods, Sumsub provides Asia-Pacific financial institutions with a complete solution from compliance to risk control through technological innovation and ecosystem cooperation.

The Hong Kong stop of the roadshow is just the beginning. Moving forward, Sumsub will continue to deepen its presence in the Asia-Pacific market and help build a safer, more trusted digital financial environment.