The article addresses the challenge of AI-generated fake IDs by OnlyFake, impacting cybersecurity and financial sectors. It proposes solutions like advanced document verification and biometric checks to enhance online identity verification.
AI-generated fake IDs, available for just $15, are reported to bypass KYC checks on crypto exchanges, raising concerns about fraud and identity theft, prompting exchanges to review their verification processes.
Identity fraud is a major risk to individuals, organizations, and society, amplified by digital technology. It costs the global economy €5 trillion annually, particularly concerning during economic slowdowns.