SINGAPORE, Nov. 21, 2024 /PRNewswire/ -- Sumsub, a full-cycle verification platform, released its fourth annual Identity Fraud Report today, highlighting a continued rise in identity fraud across the Asia Pacific region (APAC), driven by increasingly sophisticated fraud tactics and the widespread use of Fraud-as-a-Service (FaaS). According to internal verification data, there was a 121% Year-on-Year (YoY) increase in identity fraud in 2024 across the region, with significant surges recorded in Singapore (207%), Indonesia (205%), and Thailand (201%). Notably, deepfake fraud saw a 194% YoY spike in APAC and increased 4x globally, now making up 7% of all fraud attempts in 2024, from 2023.
"As the digital economy in APAC continues to grow, the evolving nature of fraud presents new challenges that businesses cannot afford to ignore. With tactics becoming more sophisticated and fraud becoming more accessible, the need for enhanced verification measures is more urgent than ever. Robust identity protection is not just a preventive measure but a fundamental part of securing the future of digital businesses and protecting consumers in an increasingly complex landscape," said Penny Chai, Vice President of Business Development, APAC at Sumsub.
Other key findings from the report include:
How Fraud-as-a-Service is Enabling Widespread Cybercrime
The economics of fraud have shifted dramatically, making it more affordable than ever for fraudsters to execute large-scale operations with minimal investment. Today, anyone can access the resources needed to launch fraudulent schemes, regardless of their technical expertise. This shift is largely driven by FaaS platforms and widely available fraud tools, which provide a range of services to facilitate cybercrime, including identity theft, account takeovers, and financial fraud. The scalability offered by FaaS models further amplifies the issue, enabling fraudsters to launch a higher volume of attacks and making it even more difficult for businesses to detect, prevent, and mitigate fraud effectively.
The Growing Complexity of Fraud in the Digital Age
Alongside the rise in mass fraud, there has been a notable increase in more sophisticated, organised fraud schemes. These operations, often involving coordinated fraud networks and money muling, target multiple platforms and industries, and are more difficult to detect and disrupt, leading to significant financial losses for businesses. In Q1 2024, approximately one in every 100 online platform users was associated with a fraud network. In fact, seven of the top-10 jurisdictions for such fraud networks are concentrated in the APAC region, including Thailand, China, Bangladesh, Vietnam, Cambodia, Hong Kong, and Singapore.
Safeguarding the Future of APAC's Digital Economy
As economies across APAC continue to digitalise, the threat of identity fraud will only escalate. The shift towards a digital-first economy presents greater opportunities for fraudsters, making it even more critical for businesses and governments to take proactive measures. Without a robust framework for identity verification and fraud prevention, the rise in cybercrime will continue to undermine the growth of the digital economy and erode consumer trust.
To learn more and download the full Sumsub 2024 Identity Fraud Report, please go to https://sumsub.com/fraud-report-2024/
* Note on Sumsub's research methodology
This study compares identity verification and user activity data from 2023 and 2024, with 2021 and 2022 data also referenced for trend analysis. It is based on aggregated and anonymised statistics from over 3,000,000 fraud attempts across various industries. The research also incorporates insights from a survey of 200+ fraud and risk professionals and 1,000+ end-users. Conducted in August 2024, the survey gathered feedback from companies in sectors like banking, crypto, payments, and e-commerce, along with consumers from 18 countries, to provide a comprehensive view of identity fraud dynamics worldwide.
About Sumsub
Sumsub is a full-cycle verification and ongoing monitoring platform that secures the whole user journey. With Sumsub's customizable KYC, KYB, Transaction Monitoring, Fraud Prevention and Travel Rule solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.
Sumsub has over 2,500 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries including Bitpanda, Wirex, Avis, Bybit, Huobi, Kaizen Gaming, and TransferGo.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Sumsub: APAC Sees 121% Increase in Identity Fraud, with Deepfakes Becoming a Growing Threat
LOS ANGELES and SEOUL, South Korea , Nov. 21, 2024 /PRNewswire/ -- Hyundai Motor Company today unveiled IONIQ 9, a three-row, all-electric SUV with expansive interior space that fuses cutting-edge design and innovative electric vehicle (EV) technology.
IONIQ 9 was unveiled at the iconic Goldstein House in LA, a celebrated example of mid-century modern architecture.
The World Premiere event opened with a keynote speech by José Muñoz, the President and Global Chief Operating Officer of Hyundai Motor Company.
IONIQ 9 is an appealing new choice for customers seeking a three-row EV that can accommodate up to seven occupants. It provides impressive space and features that cater to individual needs while offering a sense of togetherness — it is truly 'Built to Belong'.
"IONIQ 9 embodies Hyundai Motor's unwavering commitment and confidence in electrification," said Jaehoon Chang, President and CEO of Hyundai Motor Company. "Based on Hyundai Motor Group's acclaimed Electric-Global Modular Platform (E-GMP), IONIQ 9 offers outstanding interior space, providing customers with unique value while solidifying our leadership in the global EV market."
Serene, spacious interior provides an unparalleled EV experience
IONIQ 9 offers superior roominess with ample second- and third-row space, providing an exceptional experience for occupants. Its interior design is characterized by elliptical elements and calming tones to create a lounge-like atmosphere.
IONIQ 9's flat floor accommodates seating arrangements for six or seven occupants. The Relaxation Seats in the first and second rows can fully recline and offer a leg rest for optimal comfort, allowing up to four people to rest during vehicle charging depending on the configuration. IONIQ 9 also boasts 1,899 mm of headroom and 2,050 mm of legroom, when second and third rows are combined.
IONIQ 9's Relaxation Seats[5] feature Hyundai Motor's first Dynamic Body Care system[6], including a Dynamic Touch Massage function.
IONIQ 9 also introduces second-row Swiveling Seats[7], allowing the second- and third-row occupants to face each other when the vehicle is stationary.
The SUV's slidable Universal Island 2.0 console provides an impressive level of storage and delivers a walk-through front-row seating arrangement, enhancing accessibility and convenience.
Universal Island 2.0 can be moved by up to 190 mm, allowing passengers in the second row to access it easily.
With the third-row seats folded flat, the trunk can accommodate up to 1,323 liters of luggage, while with all three rows in place IONIQ 9 offers up to 620 liters of luggage room.[8] Additionally, the front trunk offers a maximum volume of 88 liters for RWD models and 52 liters for AWD models.
'Aerosthetic' design conveys a sleek and sophisticated image
IONIQ 9's sleek 'Aerosthetic' exterior reflects Hyundai Motor's commitment to blending aerodynamic innovation and sophisticated, futuristic styling.
IONIQ 9's silhouette is defined by a smooth, curved roofline, creating a streamlined aerodynamic profile and a low drag coefficient of just 0.259 Cd[9] when fitted with digital side mirrors[10].
Energy usage efficiency is also enhanced by smoothing and balancing airflow under the body, and reduced wheel and tire resistance.
With the longest wheelbase of any Hyundai model, at 3,130 mm, IONIQ 9 impresses with its expansive cabin and grand proportions.
Reminiscent of a boat tail, the rear continues the theme of pixel-fused seamless integration while contributing to IONIQ 9's outstanding aerodynamic performance.
Notably, IONIQ 9 is the first Hyundai model to eliminate the roof antenna by dividing its functions between the windshield cover (for GPS and satellite radio), the instrument panel (for Connected Car Services) and the tailgate glass (for FM/AM and Digital Multimedia Broadcasting), contributing towards its advanced and minimalistic design.
Exterior lighting aligns with Hyundai's other EV models, featuring IONIQ signature Parametric Pixel lamps with small cube projection headlights and an intelligent front-lighting system (IFS)[11] to support improved vision and driving safety while preventing glare to oncoming vehicles.
IONIQ 9's confident stance is supported by a range of wheel options, including standard-fit 19-inch items, 20-inch and 21-inch wheel options, and a top-of-the-line 21-inch Calligraphy design, allowing buyers to customize the vehicle further.
The SUV is available in 16 exterior colors, including new hues such as Celadon Gray Matte, Celadon Gray Metallic, Ionosphere Green Pearl, Sunset Brown Pearl and Cosmic Blue Pearl[12].
Inside, interior trim colorway choices include Obsidian Black and six unique two-tone options (see specifications for details)[13].
Enhanced power electronics enable advanced EV capabilities
IONIQ 9 is underpinned by Hyundai Motor's innovative E-GMP architecture, which enhanced PE system, with an optimized gear ratio for hill climbing and the application of a two-stage inverter for improved efficiency.
A fully encapsulated PE system helps reduce motor sound, while improved acoustic laminated glass, triple sealing in all areas and the application of a reinforced plate in the A-pillar area all help eliminate road and wind noise, vibration and harshness (NVH) inside the cabin.
The platform boasts a high-capacity, high-voltage battery for extended electric range and a flat floor for added passenger comfort and increased cargo space.
IONIQ 9 is the first Hyundai model to feature aluminum fenders and quarter panels, contributing to a lightweight body that enhances the EV's efficiency.
The SUV also introduces a new closure system with a rolling-type pin-lift door hinge, ensuring a better fit and finish, and a newly developed electric hood latch for access to the front trunk, which not only improves the design but also enhances product quality.
Large-capacity battery delivers impressive range and performance
The advanced PE system's high-voltage, floor-mounted NCM lithium-ion battery offers 110.3 kWh of system energy. IONIQ 9 is expected to achieve an outstanding WLTP-estimated all-electric range of 620 km and WLTP-targeted energy consumption of 194 Wh/km for the Long-Range RWD model with 19-inch wheels[14] thanks to its low drag coefficient, advanced platform and battery technologies.
IONIQ 9 conveniently charges from 10 to 80 percent in just 24 minutes using a 350 kW charger, while the platform's vehicle-to-load (V2L) signature convenience feature and 400V/800V multi-charging capability lower the barriers to EV adoption.
The Long-Range RWD model is powered by a 160 kW rear motor, the Long-Range AWD alternative features an additional 70 kW front motor, while the Performance AWD models boast 160 kW motors at both the front and rear[15].
The Performance model[16] can accelerate from 0 to 100 km/h in just 5.2 seconds, while the Long-Range AWD variant[17] takes 6.7 seconds, and the Long-Range RWD version[18] takes 9.4 seconds.
Practical, future-oriented technologies deliver innovative experiences
Hyundai Motor has applied significant advancements to IONIQ 9 to address common EV customer concerns, including a refined EV Route Planner, improved battery consistency, an enhanced torque control display, a comprehensive energy report feature and other smart improvements.
IONIQ 9 displays its charge status via green dots on the steering wheel* to keep drivers informed of remaining energy. The model features Hyundai AI Assistant, an AI-enabled voice recognition system* similar to a home virtual assistant, which is activated by a button.
Hyundai Motor's new Features on Demand (FoD) service is a unique offering that allows IONIQ 9 customers to further personalize their vehicle with digital upgrades purchased from the online store.
Bluelink® Connected Car Services* deliver seamless connectivity through online voice recognition and a range of features for a more convenient and enjoyable driving experience.
Over-the-air (OTA) software update capability allows in-vehicle controllers to update wirelessly.
IONIQ 9 offers 100W high-output USB-C ports* for passengers in the first, second and third rows.
This innovative concept extends the capabilities of Hyundai Motor's Vehicle-to-Load (V2L) capability.
IONIQ 9's climate system offers a rear-independent function optimized for leisure activities, such as car camping.
The new three-row electric SUV is also equipped with a UV-C sterilizer*, offering a multi-tray sterilization function that can disinfect small items, such as mobile phones, wallets and masks.
IONIQ 9's infotainment system includes a 12-inch cluster and a 12-inch integrated monitor as part of the panoramic curved display[19].
* Features with asterisks are available in selected markets only
Standard advanced safety features provide peace of mind
IONIQ 9's reinforced body structure ensures maximum battery safety by effectively distributing collision energy and maintaining structural integrity, even in severe incidents.
IONIQ 9 features Hyundai's latest Advanced Driver Assistance Systems (ADAS) aimed at improving safety by preventing accidents and easing driving tasks.
Driver-centric technologies enhance performance and efficiency
IONIQ 9's column-type shift-by-wire system is integrated with the ignition button for intuitive operation and space utilization.
The SUV's Chassis Domain Control Unit enhances driving performance with features such as dynamic torque vectoring for improved handling, and lateral wind stability control for high-speed stability.
The vehicle's suspension system has been designed specifically to suit the application of an all-electric SUV, with a MacPherson multi-link setup at the front and a multi-link system at the rear.
IONIQ 9 also offers competitive towing capabilities. In trailer mode, the vehicle automatically detects the trailer's weight and adjusts predicted range accordingly.
In selected markets, Digital Side Mirrors replace traditional glass mirrors, displaying a side-rear view on a seven-inch OLED monitor.
IONIQ 9 has been engineered for reduced road noise levels, with specific considerations for the unique characteristics of EVs.
IONIQ 9 set for global sales in 2025
IONIQ 9 will go on sale in Korea and the United States in the first half of 2025, with subsequent rollout planned for Europe and other markets later. Detailed specifications will be unveiled closer to specific market launches.
[1] Available in selected markets only
[2] Long-range RWD model with 19-inch wheels. EPA projected driving range is 335 miles
[3] Under optimal conditions, may differ by market
[4] Available in selected markets only
[5] Available in first and second rows depending on market
[6] Available in the Korean market only
[7] Available in selected markets only
[8] Based on the SAE standard
[9] With 19-inch wheels
[10] Available in selected markets only. When equipped with conventional side mirrors, IONIQ 9 has a drag coefficient of 0.269 Cd
[11] Available in selected markets only
[12] Colors may vary depending on the market
[13] Colors may vary depending on the market
[14] Maximum EPA-estimated all-electric range of 335 miles[14] and EPA-targeted energy consumption of 97 MPGe for Long-Range RWD with 19-inch wheels
[15] Actual motor outputs may vary depending on conditions
[16] AWD Performance variant equipped with 21-inch wheels / 0 to 60 mph in 4.9 seconds
[17] AWD Long-Range variant equipped with 19-inch wheels / 0 to 60 mph in 6.2 seconds
[18] RWD Long-Range variant equipped with 19-inch wheels / 0 to 60 mph in 8.4 seconds
[19] Size may vary depending on the market
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hyundai Motor Redefines EV Mobility with IONIQ 9 Electric SUV: Big on Space - Bigger on Innovation
Hyundai Motor Redefines EV Mobility with IONIQ 9 Electric SUV: Big on Space - Bigger on Innovation
Hyundai Motor Redefines EV Mobility with IONIQ 9 Electric SUV: Big on Space - Bigger on Innovation
