Connect with us

Technology

Sumsub Reveals First Global Fraud Index Showcasing 103 Countries’ Susceptibility to Digital Fraud

Published

2 years ago

on

To assist regulatory bodies, governments and businesses in understanding and preventing digital fraud, Sumsub shares an interactive world map

MIAMI, Nov. 5, 2024 /PRNewswire/ — Today, Sumsub, a leading full-cycle verification platform, releases the Global Fraud Index, the first-ever in-depth study of 103 countries that offers a complete overview of the risk of digital fraud. The Index reveals the underlying factors that fuel fraud in various parts of the world, aiming to raise public awareness of the root causes rather than mere numbers.

Until now, no comprehensive global analysis of the fraud index existed despite digital fraud posing a substantial threat to the financial sector. According to a Juniper Research forecast, global losses from online payment fraud will exceed $362 billion between 2023 to 2028. The Global Fraud Index reveals the underlying factors driving worldwide fraud, and by diving deeper into the reasons and conditions behind online fraud, it aims to provide actionable insights, empowering governments and regulators to implement targeted measures that curb fraud, especially in regions facing elevated risks.

Key highlights of the Global Fraud Index study include:

The top 10 countries most protected against digital fraud are Singapore, Luxembourg, Switzerland, Norway, Denmark, the Netherlands, Finland, Sweden, Ireland and Lithuania.The top 10 countries least protected against digital fraud are Pakistan, Bangladesh, India, Indonesia, Ethiopia, Argentina, Ukraine, Brazil, Algeria and Sri Lanka.The U.S. has the highest government AI readiness index across the globe.Singapore takes the highest spot in the Global Fraud Index, holding top-5 positions in economic wealth, resource accessibility and government intervention.The Nordic countries show the highest e-government services availability.EMEA (Europe, Middle East and Africa region) has the fastest access to all the necessary KYC/AML services.Countries with a GDP per Capita of less than US $25,000 are showing higher rates of fraud activity on average when compared with countries with GDP exceeding US $25,000.

You can find data-driven insights, explore interactive maps and infographics as well as build country-specific comparisons here: https://sumsub.com/global-fraud-index/

Methodology of the research

The Global Fraud Index uses both internal and external data. Sumsub’s internal data is based on the volume of over 1 million checks conducted daily on the platform. Most data is from 2023-2024, with a few indicators relying on slightly older data. External sources include The World Bank, The Heritage Foundation, Oxford Insights, Transparency International, Numbeo and other databases.

The Index consists of 4 main pillars of analysis for each country. Those include not only the country’s fraud rate itself but also incorporate ‘The Fraud Triangle’ hypothesis. This widely-used model reflects how certain factors – namely, pressure, opportunity, and rationalization – contribute to higher fraud rates and corruption. In digital fraud, this triangle manifests through lower digital resource accessibility, less efficient government intervention, and higher economic instability scores.

“At Sumsub, we are committed to shaping a people-friendly digital future by raising awareness of fraud and its root causes and by providing advanced solutions to fight digital exclusion,” says Andrew Sever, CEO and co-founder of Sumsub. “Building on the recognition of our previous findings by experts at INTERPOL and UNODC, we are launching The Global Fraud Index to further advance the digital fraud awareness agenda. The Index highlights the need for stronger collaboration among businesses, governments, and regulators while addressing the challenge of unnecessary digital exclusion. By helping businesses avoid unintended exclusion through advanced solutions like Non-Doc verification, Sumsub fosters a fairer and more inclusive financial ecosystem.”

To inform the tech community and decision-makers about the acute trends in fraud across various sectors–fintech, crypto, iGaming, EdTech, dating, online media and more–Sumsub annually shares expertise and internal study results in a whitepaper. To get a free copy of Sumsub’s 2024 Identity Fraud Report, due to be released on November 19, please visit https://sumsub.com/guides-reports/.

Aiming to raise awareness of how unfair digital exclusion impacts the world economy, Sumsub recently launched a campaign featuring Greenflag, a digital nation of 627 million people excluded from online services. Check out the dedicated research results at https://greenflag.me/.

About Sumsub

Sumsub is a full-cycle verification 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sumsub-reveals-first-global-fraud-index-showcasing-103-countries-susceptibility-to-digital-fraud-302295867.html

SOURCE Sumsub

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

eSign.AI Named Sole Electronic Signature Technology Provider for Hong Kong Government’s CorpID Project, Building the Foundation for Digital Signing Infrastructure in Hong Kong

Published

3 minutes ago

on

May 8, 2026

By

HONG KONG, May 8, 2026 /PRNewswire/ — As Hong Kong’s Digital Corporate Identity Platform (CorpID) counts down to its phased launch, eSign.AI has been appointed as the sole electronic signature vendor in the project, responsible for delivering core digital signing capabilities including digital signatures, certificate management, and signature verification services. CorpID is led by Nexify, a seasoned government systems integrator, as the prime contractor. The platform is expected to launch in phases starting late 2026, with multiple CorpID-based e-government services going live in mid-2027.

CorpID: Government-Grade Digital Identity Infrastructure for Hong Kong Enterprises

The Digital Corporate Identity Platform (CorpID) is an enterprise-level digital services platform launched by the Hong Kong SAR Government, developed under the oversight of the Digital Policy Office (DPO). It is designed to serve as the business equivalent of “iAM Smart,” providing a unified digital identity foundation for Hong Kong enterprises. CorpID’s core mission is to build an integrated digital government infrastructure — offering unified identity authentication, digital signing, form pre-filling, and e-licence storage — replacing paper-heavy, cumbersome traditional processes and enabling smart city development through seamless data connectivity.

The platform is open to companies incorporated under the Companies Ordinance (Cap. 622) and businesses registered under the Business Registration Ordinance (Cap. 310), including sole proprietorships and partnerships. The DPO requires all enterprise-related e-government services to support CorpID within 18 months of launch, and will continue expanding ecosystem coverage through sandbox initiatives, cross-industry identity standard interoperability, and fully online registration processes.

eSign.AI: The Digital Signing Engine Behind CorpID

eSign.AI is an AI-native electronic signature and contract automation platform built for enterprises worldwide, offering a complete signing framework from simple electronic signatures to the highest-level compliant digital signatures — meeting diverse regulatory requirements across industries and jurisdictions.

On the identity verification front, eSign.AI has completed integration with iAM Smart, enabling individual identity verification through Hong Kong’s citizen digital identity system, and providing legally valid digital certificate services for both enterprises and individuals.

Looking ahead, the eSign.AI SaaS platform will be deeply integrated with CorpID, providing enterprise and individual identity verification for Hong Kong businesses, and supporting both electronic and digital signing that complies with Hong Kong’s Electronic Transactions Ordinance — connecting the full digital contracting lifecycle for government and enterprise alike.

Getting Ahead of the AI Era: From eSignGlobal to eSign.AI

The electronic signature industry is undergoing a structural shift from “tooling” to “intelligence.” Market data underscores this acceleration: the AI-powered contract analysis tools market has grown from USD 3.32 billion in 2025 to USD 4.3 billion in 2026, at a CAGR of 29.6%. Signing is just one node in the contract lifecycle — document generation, workflow orchestration, compliance tracking, and post-execution management are all being transformed by AI, and the industry window is closing fast.

In April 2026, the company officially rebranded from eSignGlobal to eSign.AI, completing its strategic transformation from an e-signature tool provider to an AI-native contract automation platform. As the company’s spokesperson noted, this rebrand is not cosmetic — it is an acknowledgment of where the product actually is. Customers were already using eSign.AI to automate workflows that go far beyond the signature itself.

eSign Automation Skill was launched alongside the rebrand — an AI-powered signing automation framework for enterprise workflows that enables complete contract signing through natural language interaction, with no manual intervention required. Whether it is single-party approval, multi-party sequential signing, or large-scale parallel execution, an AI Agent can orchestrate the entire workflow in a single call. All signature initiations and status queries return structured JSON outputs, directly parseable by leading large language models and intelligent workflow systems.

eSign Automation is now available in the OpenClaw ecosystem and supports integration via Claude MCP, ChatGPT, and other leading AI platforms.

By combining AI automation capabilities with CorpID’s government-grade digital identity infrastructure, eSign.AI delivers a complete solution for Hong Kong enterprises — from identity verification to intelligent signing to full workflow automation.

About eSign.AI

eSign.AI (formerly eSignGlobal) is an AI-native electronic signature and contract automation platform built for enterprises worldwide. The platform serves over 100 countries and regions, covering core industries including financial services, manufacturing, real estate, human resources, and healthcare — with 1,500+ scenario applications and 3,000+ ecosystem partners. eSign.AI holds ISO 27001, ISO 27701, and ISO 27018 certifications and supports major regulatory frameworks including the U.S. ESIGN Act / UETA, EU eIDAS, HIPAA, GDPR, and 21 CFR Part 11. Infrastructure is anchored by independent data centers in Hong Kong, Singapore, and Frankfurt, Germany.

View original content:https://www.prnewswire.com/apac/news-releases/esignai-named-sole-electronic-signature-technology-provider-for-hong-kong-governments-corpid-project-building-the-foundation-for-digital-signing-infrastructure-in-hong-kong-302766763.html

SOURCE eSignGlobal

Continue Reading

Technology

The 9th AskGamblers Awards Finalists Announced as Voting Starts

Published

3 minutes ago

on

May 8, 2026

By

The highly anticipated 9th AskGamblers Awards has officially moved into the voting phase. Following a rigorous selection process, the finalists across 5 premier categories have been revealed: Best Casino, Best New Casino, Best New Slot, Best Sportsbook, Best Provider. Players are invited to cast their votes until 11 June.

BELGRADE, Serbia, May 8, 2026 /PRNewswire/ — The voting stage of the 9th annual AskGamblers Awards has officially begun. The list of finalists is announced, and the first votes are already coming in. 

Players will have a chance to vote for their favourites until 11 June, when the winners will be announced at the gala ceremony in Belgrade. There’s a total of 5 categories where popular votes are taken into consideration:

Best CasinoBest New CasinoBest SportsbookBest New SlotBest Game Provider

There aren’t any big changes to the voting process compared to last year. The votes from the prominent members of AskGamblers Forum will be counted in as well, while some award winners will be announced directly by the AskGamblers teams. 

These include: Best Crypto Casino, Best Partner, and Best Manager categories, while the AskGamblers Superstar Award is expected to be handed to the operator that illustrates the brand values best.

Dijana Radunović, General Manager at AskGamblers, is excited for voting to start: “We’re seeing some familiar contestants, but there are a lot of new names, so it will be exciting to see who comes up on top.”

“We invite players to vote for their favourites! This is a chance for you to speak your mind and support operators and games that shape this industry,” Radunović added.

Before the AskGamblers Awards Ceremony that takes place on 11 June, Charity Night is scheduled for 10 June.

About AskGamblers

AskGamblers.com strives to provide current, objective, and accurate information and guide its users towards a safe gaming experience. The way we deliver our services, from the online casino, sportsbook, slot, and bonus reviews to our trusted Complaint Service, is best described by our motto: ‘Get the truth. Then play.’

For more information about AskGamblers and AskGamblers Awards, please contact dijana.radunovic@g2m.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/askgamblers/r/the-9th-askgamblers-awards-finalists-announced-as-voting-starts,c4346370

View original content:https://www.prnewswire.co.uk/news-releases/the-9th-askgamblers-awards-finalists-announced-as-voting-starts-302766772.html

Continue Reading

Technology

SUNMI Wins 2026 Red Dot Design Awards with Five Products, Leading Global Commercial Industrial Design

Published

3 minutes ago

on

May 8, 2026

By

SINGAPORE, May 8, 2026 /PRNewswire/ — The winners of the 2026 German Red Dot Design Award were officially announced. Five of SUNMI Technology’s flagship products won awards: the CPad Business Tablet, CPad PAY, FLEX 3 Interactive Display, the V3 handheld POS Terminal and L3 Industrial PDA. These products stood out with three core design concepts: integration, versatility and human-centricity.

Known as “The Oscars” of global industrial design, the Red Dot Award has strict evaluation criteria covering aesthetics, ergonomics, scenario adaptability and sustainability. SUNMI adheres to original commercial scenario customization, rejecting crudely modified consumer devices. All winning products are originally developed for real commercial scenarios such as cash register, food delivery, industrial inspection and store operations, covering the entire commercial track with high scenario adaptability. Meanwhile, it practices ESG concepts, adopting eco-friendly materials and modular structures to extend equipment service life, reduce consumable consumption, and implement low-carbon and long-term design, which perfectly meets the Red Dot’s sustainability evaluation criteria.

Simplify Complexity: With highly integrated design, SUNMI eliminates the “patchwork feeling” of cluttered devices and tangled cables in traditional commercial scenarios, streamlining store operations and saving space.All-in-One Versatility: Beyond a single tool function, SUNMI’s products achieve flexible transformation through modular and multi-form designs to proactively adapt to changing business needs. The CPad series with modular accessories and FLEX 3’s Lego-style modular design enable multi-scenario application and long-term reuse.Human-Centric Design: Every detail is human-oriented, focusing on real pain points to enhance scenario experience. The L3 Industrial PDA reduces high-frequency work fatigue through scientific weight distribution; the V3 Smart POS Terminal balances large-screen visibility and grip comfort; CPad PAY integrates full-link functions to simplify workflows.

These honors stem from SUNMI’s long-term commitment to a sustainable society, original commercial R&D and ESG. In the future, SUNMI will uphold its core concepts, expand the boundaries of commercial industrial design, and empower global businesses with user-oriented, eco-friendly and high-value products.

Logo – https://mma.prnewswire.com/media/2081156/sunmi_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/sunmi-wins-2026-red-dot-design-awards-with-five-products-leading-global-commercial-industrial-design-302766777.html

Continue Reading

Trending