Sumsub launches ID verification product for Australia as fraud ramps up

Sumsub has launched a Document Verification Service (DVS) for Australia as part of the firm’s growing focus on the Asia-Pacific Region

The product allows government-backed validation of personal documents and personal data validation for Australian businesses and is compliant with local anti-money laundering (AML) and Know Your Customer (KYC) rules. The list of documents that can be validates includes passports, driving licenses and visas.

The UK-headquartered identity verification provider has been strengthening its presence in the region. The company established its APAC headquarters in Singapore in 2023 appointing Penny Chai as Vice President of Business Development.

“As we deepen our commitment to Australia, the integration of DVS verification into our database validation solution reflects our strategic focus on supporting Australian clients with a secure, government-backed process to stay ahead of evolving threats,” says Chai.

These threats include identity fraud which has seen a 138 percent increase in Australia between 2023 and 2024, according to Subsub’s data. The country’s government has responded by introducing a new regulation called Scams Prevention Framework, which imposes fines of up to AU$50 million (US$31.4 million) for businesses that do not provide appropriate guardrails to reduce scams.

Sumsub has been making other deals in the APAC region, including with  Australian multi-asset brokerage Ingot Brokers and Singaporean payments provider Dtcpay, the firm says in its release.

This month, the company also joined the Payments Association EU to help fight against fraud.

Article Topics

Australia  |  digital identity  |  document verification  |  fraud prevention  |  identity verification  |  Sumsub