AI creates fake IDs to bypass verification: Is it the end of KYC?
In order to trade cryptocurrencies using some of the major crypto markets, investors must go through a “Know Your Customer” (KYC) verification step and provide a valid identification (ID) document. However, technological advancements in artificial intelligence (AI) could threaten this current model. A new AI-based tool now allows people to create realistic fake IDs within minutes for $15, as reported by 404 Media . Interestingly, Joseph Cox, co-founder of 404 Media and journalist, tested the tool and successfully bypass ed the verification check on OKX. “Massive implications for crime and cybersecurity.” – Joseph Cox New: inside the underground site where "neural networks" churn out fake IDs – I tested, made two IDs in minutes – used one to successfully bypass the identity verification check on a cryptocurrency exchange – massive implications for crime, cybersecurityhttps://t.co/hCjHWbKJPf pic.twitter.com/sd8ofmdEOE — Joseph Cox (@josephfco...