Singapore sees 1500% surge in Deepfake fraud

Healthtech and fintech see 723% and 116% growth in fraud

Author

Anand Srinivasan
June 13, 2025

“Whether you think you can or think you can’t, you’re right”: Henry Ford

Singapore fuel oil stockpiles grows for 4th week

  • Residual fuel inventories at 23.71 million barrels (3.73 million tonnes)

  • 5% up from previous week

  • Fuel oil imports at 784,000 tonnes (up 3% from last week)

  • Exports this week at 403,000 tons (up 21% from last week)

Singapore sees 1500% surge in Deepfake fraud

  • Synthetic identity document fraud cases rise 184% in S’pore

  • Increase in fraud cases

    • Healthtech: 723%

    • Fintech: 116%

  • Surge due to use of AI-driven tools for digital verification

Hong Kong ahead of Singapore in digital wealth management

  • Study carried out among individuals with over $100K investable assets

Hong Kong

Singapore

Digital channel wealth management

93%

85%

Use of robo-advisors

74%

59%

Comfortable with AI

52%

27%

Average payment delay in APAC at 65 days

  • Ultra-long Payment delays (over 180 days) grows 40%

  • 80% of these delays have never been paid

  • 57% companies expect more late payments over next 6 months

  • Overall payment delays in APAC dropped to 49% from 60%

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