Bangkok, April 29, 2026 - Fraud has evolved into industrial-scale operations across Southeast Asia. At Money20/20 Asia 2026, held from April 21 to 23 in Bangkok, VIDA, Indonesia’ leading digital identity network, warned that traditional approaches to identity security are no longer sufficient.
Founder and CEO of VIDA, Niki Luhur, shared this during the panel session “How Cybercriminals Target Fintech and What’s Next.” He highlighted how fraud has scaled across the region, from industrialized scam compounds to cross-border syndicates spanning Myanmar, Thailand, and Indonesia. In one case, authorities in Myanmar seized $12 billion in Bitcoin, underscoring the scale of these operations.
“Cybercrime is democratic, they don't care what size institution you are. They just scan for vulnerabilities. All the doors that are open, they exploit them,” said Niki Luhur.
This industrialized scale is made possible by one thing: Systematic exploitation of weak points across digital systems. Rather than targeting specific institutions, cybercriminals focus on vulnerabilities that can be replicated and scaled across platforms.
Niki emphasized that while attention is on deepfakes, the real threat lies deeper in the attack chain, particularly in injection attacks. "Deepfakes get the buzz, but the door is an injection attack. The majority come from virtual cameras on compromised devices,” he added.
His solution is clear: layered defense requiring three simultaneous verifications; the person (biometrics), their identity (against government databases), and the device. This approach addresses the infrastructure gap where KYC and authentication systems remain siloed across financial institutions.
Alongside its presence at the conference, VIDA is also launching ID FraudShield, a new fraud detection solution built for threats that traditional biometric checks can no longer stop. ID Fraud Shield combines biometric liveness with device intelligence, behavioral analytics, network detection, and rule-based fraud evaluation, all delivered in parallel through one SDK. It's designed for one purpose: catching the fraud that liveness alone misses.
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