Sumsub, a global verification platform specializing in identity solutions, reveals in its 2024 report recently that Africa is among the fastest-growing regions for fraud cases, with a staggering 167 percent increase in identity-related crimes this year.
The report identifies Nigeria as Africa's leading hotspot, accounting for 5.91 percent of the region’s fraud activity. This rise is attributed to the increasing use of advanced technologies such as deepfakes, which enable sophisticated identity fraud schemes.
Globally, fraud rates surged across all regions in 2024. The Middle East experienced the most dramatic increase, with cases skyrocketing by 643 percent, followed by Africa at 393 percent and Latin America and the Caribbean at 255 percent.
The report highlights various forms of identity fraud dominating the landscape, including fake documents, chargeback fraud, account takeovers, and deepfake-based scams. Notably, the number of deepfakes detected globally quadrupled from 2023 to 2024, now accounting for seven percent of all fraud attempts.
Deepfake technology, which uses synthetic media to create realistic video and audio forgeries, is emerging as a global threat, particularly in regions with expanding internet access, such as Africa. Fraudsters exploit this technology to create convincing imitations of real individuals, manipulating these digital personas for illicit purposes.
Earlier this year, Smile ID, a prominent African identity verification service, reported a significant rise in identity fraud across the continent. The report warned that such fraud undermines business operations, erodes user trust in digital services, and could jeopardize Africa’s digital economy if left unchecked.
According to the report, a single fraudster can execute up to 100 fraudulent activities annually, potentially generating over $2.5 million in monthly gains from an investment as low as $1,000. These findings align with data from the 2024 Global Fraud Index, which notes that financial instability in some regions has made them particularly vulnerable to fraud, as economic hardships push individuals toward illicit activities.
