Built for agility and trust, the continued partnership supports digital finance players in staying ahead of regulatory shifts across Hong Kong and the broader Asia region
We joined hands with DKM ECO, a leading data services provider in the Asia-Pacific region, to stage an APAC Roadshow “Comply to fortify 2.0” in Hong Kong to share with businesses on how innovative solutions can address their most pressing compliance challenges. This initiative forms part of the broader strategic partnership unveiled by Sumsub and DKM ECO, focused on building a more secure and resilient business ecosystem through enhancing financial crime prevention efforts and staying ahead of evolving compliance updates in Hong Kong and beyond.
Sumsub’s latest internal data* reveals that APAC’s fintech industry faces an escalating threat of fraud in Q1 2025, with the fraud rate in Hong Kong increasing by 234% year-over-year. The fintech industry in Mainland China is experiencing an even higher surge, with fraud rates up by 2390% year-over-year, highlighting the critical need for effective fraud prevention measures.
Providing businesses with tailored guidance to unlock the value of Sumsub’s full-cycle verification platform, the partnership between Sumsub and DKM ECO focuses on supporting clients through process transformation and seamless integration. Together, they have already empowered organizations across Hong Kong, Mainland China, Singapore, and the Philippines—ranging from fintech to Web3. With Vietnam as the next launchpad, the partnership is unlocking new possibilities for compliance and security across Asia.
“With regulatory expectations intensifying across Hong Kong, the Greater Bay Area, and Asia as a whole, fintechs are under increasing pressure to meet stringent AML, fraud prevention, and data protection standards,” said Penny Chai, Vice President, APAC, Sumsub. “From evolving AML regulations to the rise of AI-driven fraud, compliance is no longer optional—it’s foundational. With 76% of fraud occurring after onboarding, fintechs need robust, scalable verification systems that go beyond initial checks to ensure continuous compliance and risk mitigation. Our partnership with DKM ECO reflects our shared commitment to equipping financial institutions with the tools they need to thrive in this complex environment, while supporting the region’s vision for a secure and innovative financial ecosystem.”
“As we remain committed to delivering world-class technology solutions that empower businesses to expand globally, we are pleased to partner with Sumsub to address key compliance challenges in Hong Kong and across the APAC region. This collaboration underscores our strategic focus on advancing industrial applications and driving innovation within the global big data ecosystem,” said Zmark Zheng, Senior Digital Advisor, DKM ECO.
Sumsub’s APAC Roadshow in Hong Kong is designed to equip fintechs, crypto firms, and virtual banks in the city and beyond with essential knowledge on licenses and regulatory requirements. Institutions will gain critical perspectives shaped by key bodies such as the Hong Kong Monetary Authority and the Securities and Futures Commissions to prepare for tomorrow’s environment.
As Sumsub continues to drive innovation and collaboration in the fight against financial crime and the growing “fraudemic”, it will bring together global experts to drive the future of digital trust at the inaugural What the Fraud Summit, taking place at Andaz Singapore from November 19 to 20, 2025. Follow the official LinkedIn page for the latest updates.
*Based on Sumsub’s internal statistics, drawn from millions of identity verification checks conducted globally between Q1 2024 and Q1 2025.
