Sumsub has partnered with the South Korean firm iMind to bring its identity verification, fraud prevention, and compliance technology into the country’s payments sector. The arrangement pairs Sumsub’s global verification platform with iMind’s financial-cloud infrastructure, which already underpins Korean fintech firms including PayGate, Hanpass, Nizpay, and Baropass.
Under the partnership, Sumsub provides AI-driven identity verification, deepfake detection at onboarding, and continuous monitoring across the customer lifecycle, while iMind contributes local regulatory expertise and the cloud infrastructure that connects those capabilities to Korean payment providers. The combination is aimed at letting payment firms meet South Korea’s anti-money-laundering and counter-terrorist-financing obligations while screening for synthetic and manipulated identities at the point of onboarding.
The companies tie the deal to a sharp rise in AI-enabled fraud in the Korean market. Sumsub cites a 137 percent year-on-year increase in deepfakes in the country during 2025, and more than 7,000 fraud-linked accounts identified across nine major banks in the first quarter of 2026, roughly double the prior-year figure. The Korea Financial Intelligence Unit has expanded account-freeze powers and compliance requirements in response, raising the bar for how payment firms verify and monitor their users.
“Today’s fraudsters use deepfakes and synthetic identities to bypass onboarding, then exploit verified accounts, making continuous monitoring essential, not optional,” said Penny Chai, Vice President of APAC at Sumsub. Jay Cho, Chief Executive Officer of iMind, said the partnership combines local regulatory understanding with AI-powered verification to enable resilient compliance frameworks for Korean payment providers.
The deepfake-detection element draws on technology Sumsub has been developing across its platform. The company recently upgraded its deepfake detector with a self-learning adaptive model intended to keep pace with evolving generative-AI tools, and has expanded its compliance partnerships in other regulated sectors, including a tie-up with the crypto exchange MEXC aimed at AI-driven fraud.
The iMind partnership extends that approach into Korean payments specifically, a sector where the regulatory pressure and the fraud volume are both rising. Sumsub positioned the agreement around onboarding integrity and ongoing transaction monitoring rather than a one-time identity check, reflecting the pattern its executives describe of fraudsters clearing onboarding before exploiting an account later.
Sources: Sumsub
–
By the ID Tech Editorial Team
