đ¨ AI-Powered Tool Breaks KYC Protocols!
A new AI deepfake tool called ProKYC is taking crypto fraud to a whole new level of sophistication. It enables cybercriminals to bypass even the toughest Know Your Customer (KYC) checks on some crypto exchanges and financial platforms. According to cybersecurity firm Cato Networks, this tool is a game-changer for scammers looking to create fake identities out of thin air, making it easier than ever to open fraudulent accounts.
Forget the days of buying fake IDs off the dark webâProKYC allows bad actors to generate AI-powered identities, complete with realistic facial animations and deepfake videos. It can pass high-level KYC processes that involve matching live webcam images to government-issued IDs like passports or driver's licenses.
đ How Does ProKYC Work?
ProKYC creates an AI-generated face and inserts it into a fake ID template.
It then uses a deepfake video to match the AI-generated face with the userâs real-time webcam image, allowing scammers to bypass verification processes used by major exchanges like Bybit.
Itâs not just crypto exchanges at riskâpayment platforms like Stripe and Revolut could also be vulnerable.
While the tech is groundbreaking for fraudsters, itâs a nightmare for exchanges trying to maintain security. Overly strict biometric systems could cause false positives, and too lax systems let scammers slip through unnoticed.
That's exactly why we need blockchain technology and proof-of-humanity! Of course Bonuz and IDSign together will solve such problems too.
Stay updated with @Professor Mende - Bonuz Ecosystem Founder and drop a follow for more updates!
#SCAMalerts #fraudalert #scam  #fraud  #kyc
