Face-Swapping Tools Pose Elevated 'Know Your Customer' Risks
AI Summary
• Fraud and risk teams must enhance 'know your customer' checks due to rapidly improving deepfake technology.
• Synthetic identities, convincing face-swaps, and defeated biometric checks pose significant risks.
Texas Relevance
The article does not explicitly mention Texas or any Texas-specific entities. The information applies to all credit unions but is not specific to Texas.
Original Content
Easy-to-Use Deepfake Services for Criminals Rapidly Improving, Researchers Warn Financial firms' fraud and risk teams must bolster know-your-customer checks in the face of increasingly effective and affordable deepfake technology and services that can generate synthetic identities, convincing face-swaps and defeat "live" biometric checks to bypass defenses, warn researchers.