The guided use of generative AI has opened doors for nefarious actors like ProKYC, who exploit technology to create deceptive identities for financial fraud.
With deepfakes, the attacker can swiftly create realistic images that evade existing facial recognition systems, posing substantial challenges for crypto exchanges.
The ramifications are significant; a recent report highlights that New Account Fraud attributed to such AI manipulations resulted in $5.3 billion in losses in 2023.
Organizations must adapt to this threat landscape by implementing robust scanning techniques to detect AI-generated content, a crucial step towards protecting against identity fraud.
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