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FOMO Pay Partnered With Sumsub for Compliance

The Singapore-based institution has integrated new identity verification tools to combat rising global fraud.

Updated on Oct. 5, 2026 in Financial Crime

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FOMO Pay has partnered with compliance firm Sumsub to integrate automated identity verification and transaction monitoring to combat AI-driven financial fraud globally. AI Illustration. Upload story photo >

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FOMO Pay has officially partnered with Sumsub to enhance its compliance infrastructure across international markets. The integration will utilize modular identity verification and transaction monitoring to address the growing threat of AI-driven financial crime.

Why it matters

This partnership enables FOMO Pay to maintain regulatory compliance while scaling operations in regions facing rapid increases in digital fraud. By deploying advanced screening tools, the firm aims to secure its digital asset and payment services against sophisticated spoofing.

Sumsub supports verification for 14,000 document types across 220 countries and territories. Its Liveness technology is now tasked with monitoring transactions to curb rising fraud incidents that saw a 158% increase in Singapore in 2025.

The players

FOMO Pay

Headquartered in Singapore, this payment institution specializes in digital financial infrastructure, including payment processing and digital assets.

Sumsub

This technology company provides global identity verification, business screening, and transaction monitoring services to over 4,000 clients.

The details

FOMO Pay is embedding Sumsub's API-first platform into its existing technology stack to automate AML screening and customer account monitoring. This move is designed to support the firm's expansion into the Greater Bay Area, the Middle East, and North Africa.

Timeline

  1. FOMO Pay was founded in 2015.

  2. 2025 served as the baseline year for regional fraud growth statistics.

  3. The partnership between the two companies was announced on October 5, 2026.

Legal Context

Financial institutions are increasingly prioritizing automated compliance as fraud rates climb, echoing a broader global trend of AI-driven crime. This shift underscores a move away from manual verification toward scalable, API-first security models.

Customers of FOMO Pay may experience enhanced security protocols during identity verification and transaction processing. These changes are intended to provide more robust protection against account takeovers and fraudulent activity.

The takeaway

Businesses operating in digital finance must now adopt sophisticated liveness detection to counter the rapid rise of deepfake-based attacks. Integrating automated compliance tools is becoming a standard requirement for maintaining market trust in highly regulated financial zones.

Further reading

For more on the challenges of securing digital payments, explore our Financial Crime section.

More information

To learn more about the institution's services, visit the FOMO Pay official website.

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Do you trust financial apps to keep your account safe from AI-powered fraud attempts?