AI Fraud

Rise of AI-generated fake IDs with negative results for identity verification

OnlyFake’s Telegram channel offered realistic fake IDs from 26 countries for just $15, bypassing KYC checks on numerous crypto platforms. Using AI, these IDs could be generated within seconds, complete with chosen credentials and facial pictures, mimicking real-life settings for authenticity. Criminals utilizing AI fraud pose a significant challenge to fintech platforms, with incidents like […]

Cybersecurity Data Protection Fraud

FCC: New Rules Shield Consumers from SIM Swapping

The Federal Communications Commission (FCC) has implemented robust rules on November 15, 2023, to safeguard consumers against scams targeting their cell phone accounts. The rules specifically combat SIM swapping and port-out fraud, shielding users from scammers attempting to manipulate their personal information and data. Scammers often use SIM swapping to fraudulently transfer a victim’s wireless […]