FOMO Pay, a Singapore-headquartered payment institution, is adopting Sumsub‘s compliance platform as it expands across Southeast Asia, the Greater Bay Area and the Middle East and North Africa.
The partnership adds identity and business verification, AML screening and transaction monitoring to FOMO Pay’s existing infrastructure. FOMO Pay describes the tools as an additional layer, not a replacement.
What the FOMO Pay partnership covers
Sumsub’s platform handles several compliance tasks in one place. Onboarding uses identity and business verification, ownership checks and AML screening. After onboarding, FOMO Pay uses Sumsub’s transaction monitoring to review account activity for risk.
Sumsub says its platform supports more than 14,000 identity document types from over 220 countries. Its Liveness detection is claimed to catch up to 99.98% of deepfake attempts in a single scan.
The fraud backdrop
The deal lands as AI-powered fraud grows more sophisticated. Sumsub’s own Identity Fraud Report 2025-2026 describes a “Sophistication Shift”: overall fraud rates have stabilised, but high-quality, multi-step attacks rose 180% over 2024–2025.
The regional picture is sharp. The Middle East saw the fastest fraud growth in 2025 (19.8%), followed by APAC (16.4%). Deepfake incidents rose 158% in Singapore and 147% in Hong Kong year on year. Sumsub’s separate APAC research cites synthetic personal data up 142% and deepfake fraud up as much as 2,100% on some measures.
One caveat: these figures come from Sumsub’s own research, so they carry a commercial interest in the threat they describe.
Why compliance is the bottleneck
For a firm like FOMO Pay, compliance is the constraint on expansion. Its markets — from Southeast Asia to the Gulf — have very different identity, AML and data rules. A payment business licensed in several jurisdictions has to meet all of them at once.
That is the appeal of a single, API-first platform: it lets a firm add markets without rebuilding its checks each time. FOMO Pay is a Major Payment Institution in Singapore and holds licences in Hong Kong and the UAE. It has also been pushing into digital assets, including custody and stablecoin work.
What to watch
Three things will show whether this is routine or telling. Whether FOMO Pay’s expansion keeps pace with the compliance build-out. Whether Sumsub’s deepfake detection holds up as AI attacks evolve. And whether the AI-fraud surge continues to make compliance a buying priority across Asia’s payment firms.
Editor’s Note
Sources: the FOMO Pay and Sumsub release of 5 October 2026; Sumsub’s Identity Fraud Report 2025-2026 and product materials; and FOMO Pay’s corporate and licensing record. The fraud statistics are as published by Sumsub, which sells fraud-prevention services and therefore has a commercial interest in the threat data. Deal terms and client volumes were not disclosed. TechRecast has not independently verified the claims. This article is not investment advice.