Traditional third-party fraud is most common in many parts of Asia and has slowly evolved into impersonation scams with third-party account access. This type of more sophisticated scam is harder to detect and more prevalent in Hong Kong and Singapore.
Digital fraud attacks are still on the rise, especially on mobile channels. According to data from the LexisNexis Digital Identity Network, attack volumes on mobile surged 94% year-on-year worldwide, from 260 million to 505 million.
The LexisNexis Digital Identity Network also reveals that 3.3 billion bot attacks million fraud attacks took place in Asia Pacific between July 2021 to June 2022.
