Sumsub, a global full-cycle verification platform, is launching Sumsub Academy, an educational initiative aimed at empowering compliance, risk, and fraud prevention professionals. As the first verification and anti-fraud company to offer educational courses with external market experts, the Academy is designed to provide real-world compliance strategies, practical knowledge, and career-boosting credentials through free, expert-led modules. 

Skilled anti-fraud professionals are needed now more than ever. According to Sumsub’s Identity Fraud Report 2024, fraud  is on the rise – with 67% of companies reporting an increase in fraud and 45% noting a rise in fraud sophistication. The average identity fraud rate more than doubled over the past three years, increasing from 1.1% of all verifications in 2021 to 2.6% in 2024. Meanwhile, businesses are facing growing financial risks, with the average cost per fraud event reaching $300,000. 

A four-fold surge in deepfakes worldwide from 2023 to 2024 further highlights the increasing use of AI’s role in fraud, with deepfakes now accounting for 7% of all cases. These trends emphasise the urgent need for continuous education to ensure professionals stay ahead of evolving fraud tactics and regulatory challenges.

Key features of Sumsub Academy:

• Expert-led training – Learn from regulatory experts and industry leaders in compliance, risk management, and fraud prevention, including practitioners with hands-on experience in leading companies.
• Practical courses – Apply real-world compliance strategies that can immediately be put into practice.
• Free of charge – Access valuable educational content at no cost, empowering professionals to grow their careers without financial barriers.
• Certification & career growth – Earn credentials that enhance professional profiles and boost career prospects.

“At Sumsub, our mission has always been to empower businesses and professionals to navigate the complex landscape of compliance, fraud prevention, and risk management with confidence,” said Andrew Novoselsky, Chief Product Officer at Sumsub. “With Sumsub Academy, we’re delivering on that promise by providing accessible, expert-led training that gives professionals the knowledge and skills to stay ahead of evolving regulations and combat financial crime effectively. We’re not only supporting career growth but also helping organizations worldwide protect their ecosystems from ever-changing threats.”